Bitcoin Faces Temporary Pullback Amid Ongoing Bullish Trend

‎BTCUSD Market Analysis – September 4

‎Bitcoin experiences a corrective pullback after surpassing the $120,200 supply level, but the broader structure continues to favor a bullish continuation.

‎Bitcoin (BTCUSD) Key Levels

‎Support Levels: $110,100.00, $100,200.00
‎Resistance Levels: $120,200.00, $127,000.00

‎BTCUSD Long-Term Trend: Bullish

‎Bitcoin recently faced selling pressure after briefly moving above the $120,200 supply zone, leading to a retracement toward the $110,100 demand level. This decline represents a temporary pause within a broader bullish trend that has consistently produced new highs and broken through multiple resistance levels. Buyers are already showing interest at demand, signaling a potential resumption of upward momentum.
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‎At the $110,100 demand level, a bullish reaction has emerged, though stronger confirmation is required for a sustained trend continuation. Specifically, a break of the ongoing bearish trendline would provide the needed validation that buyers are regaining full control. This setup aligns with the formation of a bullish flag pattern, a common continuation signal in trending markets.
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‎Looking ahead, if bullish momentum strengthens, Bitcoin is expected to retest the $120,200 supply level and, with sufficient volume, breach it again. A successful breakout would likely open the path toward the $127,000 supply level, reinforcing the dominant bullish outlook and signaling further price expansion.

‎BTCUSD Medium-Term Trend: Bearish

‎On the 4-hour timeframe, Bitcoin’s recent decline reflects a short-term bearish phase, as price rejected from trendline support and initiated a corrective move. This pullback has since transitioned into a minor bullish reaction, with price gradually approaching the trendline resistance.
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‎The 4-hour Moving Average currently indicates bullish momentum, adding confluence to the ongoing rebound. Given that the broader trend remains strongly bullish, a clean breakout above the trendline resistance would likely realign price with the prevailing uptrend, setting the stage for another push toward higher supply levels.

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