Dash 4h BOS above 60.52 flips 60.49 into key support

Price just broke higher through 60.52 and is holding above the 60.49 support cluster on the 4h chart, turning that zone into the pivotal line for continuation.

The structure

The prevailing read has been range-bound, but the latest break of structure up through 60.52 shifts the working pivot set. The prior sequence registered two higher lows followed by four lower lows, culminating in a swing low at 49.66. Since then, price has pressed up to the most recent 24‑bar high at 62.55 and reclaimed the former swing high at 60.52. With the EMAs stacked bullishly and price closing at 61.29, the path of least resistance is higher while 60.49 acts as a shelf. The anchored VWAP at 57.99 remains below price, reinforcing the reclaim as constructive rather than a simple wick through resistance.

What the levels say

• Nearest support: 60.49 (three touches, strength 0.796). This is the working pivot; acceptance above it keeps the breakout thesis intact.
• Additional supports: 56.43 (one touch, strength 0.514), 53.27 (two touches, strength 0.597), 49.66 (one touch, strength 0.592), and 48.02 (two touches, strength 0.637). These mark the staircase if 60.49 were to fail.
• Nearest resistance: 64.85 (two touches, strength 0.666). A clean push and hold above that opens the next measured shelf at 66.4 (one touch, strength 0.568). Beyond that, 73.12 (two touches, strength 0.66) is the next obvious cap from prior supply.

The most recent 24‑bar extremes are defined by 62.55 on the top side and 49.66 on the bottom, framing the active range now being resolved.

Positioning

Funding is positive at 0.0001 versus a recent average of 0.000041, with a percentile reading of 44.07, indicating neither a squeeze-prone long skew nor capitulation. Open interest stands at 485739.8 and has risen 0.52% over three days, consistent with fresh positioning building into the breakout rather than forced covering. Spot activity is subdued: latest volume is 27359.1 against an average of 61796.2, with a volume ratio of 0.44 and no spike flagged, suggesting the move has not yet attracted momentum flows.

On the volatility and trend side, ADX is 28.8 with volatility elevated (percentile 79) and Bollinger width at 27.05, a reading in the 84.52 percentile. EMAs are stacked bullishly with price above 57, 56.18, and 49.17, while RSI sits at 67.61 and the MACD histogram is positive at 0.9711. ATR is 2.53, or 4.13% of price, providing adequate room to work levels without blurring the invalidation.

The setup

Bias: long. The entry sits in the 60.49–61.92 band, defined by the support cluster at 60.49 and the current consolidation highs. Invalidation is 59.23; a confirmed close below that price would negate the reclaim and argue for a return to 56.43 and 53.27. Targets are 64.85 first and 66.4 second, with an indicated R:R of 1.85. The mechanism is straightforward: hold above 60.49 to force continuation, clear 64.85 to trigger follow-through into 66.4, with 62.55 providing interim context from the recent 24‑bar high.

A change in thesis would come from acceptance back below 60.49 after the breakout, especially if accompanied by a stall in open interest or a rollover in funding from 0.0001 toward the recent average of 0.000041. A confirmed close below 59.23 would fully invalidate the long structure and pivot the focus to 56.43 and 53.27. Conversely, strong acceptance above 66.4 would put 73.12 in play as the next supply zone and reinforce the trend expansion case.