Bitcoin has successfully rebounded from the major support zone around **$59,000–$59,500**, forming a series of higher lows and breaking out of the short-term descending channel. The price is now trading above a rising trendline, indicating that bullish momentum is gradually returning.
The highlighted consolidation area acted as a distribution zone during the previous downtrend. After the sharp decline, buyers stepped in near support and pushed the market higher, creating a potential trend reversal structure.
As long as BTC remains above the ascending trendline and the **$61,500–$62,000** support region, the bullish outlook remains intact. A sustained move above recent highs could open the door for a continuation toward the next key resistance level.
### Target
🎯 **Primary Target: $65,226**
### Key Levels
* **Support:** $61,500 – $62,000
* **Major Support:** $59,000 – $59,500
* **Resistance:** $63,500 – $64,000
* **Target:** $65,226
### Trading Idea
The current structure favors buyers while price holds above the rising trendline. A bullish continuation toward **$65.2K** remains likely if momentum persists and Bitcoin maintains higher lows above support.
The highlighted consolidation area acted as a distribution zone during the previous downtrend. After the sharp decline, buyers stepped in near support and pushed the market higher, creating a potential trend reversal structure.
As long as BTC remains above the ascending trendline and the **$61,500–$62,000** support region, the bullish outlook remains intact. A sustained move above recent highs could open the door for a continuation toward the next key resistance level.
### Target
🎯 **Primary Target: $65,226**
### Key Levels
* **Support:** $61,500 – $62,000
* **Major Support:** $59,000 – $59,500
* **Resistance:** $63,500 – $64,000
* **Target:** $65,226
### Trading Idea
The current structure favors buyers while price holds above the rising trendline. A bullish continuation toward **$65.2K** remains likely if momentum persists and Bitcoin maintains higher lows above support.
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