Bitcoin is attempting to establish support beneath a major higher-timeframe resistance around $66,500, placing price at a crucial decision point.
The current support zone is reinforced by the Point of Control (POC), the 0.618 Fibonacci retracement, and the VWAP, creating a strong area of technical confluence. Recent price action has produced multiple rejection wicks from this region, suggesting buyers are actively defending current levels.
As long as Bitcoin remains above the Point of Control, the probability favours a rotational move higher into the $66,500 resistance. This level is the key obstacle bulls must overcome to confirm a continuation of the broader uptrend. A decisive breakout, supported by increasing buying volume, would likely trigger further upside momentum and open the path toward the Value Area High.
The $74,000 region now stands as the next significant upside target should resistance give way. Until then, maintaining support remains the priority. Losing the current confluence zone would weaken the immediate bullish outlook, while holding it keeps the structure constructive and supports the case for another leg higher.
From a technical perspective, all eyes remain on whether buyers can continue defending this support and build enough momentum to challenge higher-timeframe resistance.
The current support zone is reinforced by the Point of Control (POC), the 0.618 Fibonacci retracement, and the VWAP, creating a strong area of technical confluence. Recent price action has produced multiple rejection wicks from this region, suggesting buyers are actively defending current levels.
As long as Bitcoin remains above the Point of Control, the probability favours a rotational move higher into the $66,500 resistance. This level is the key obstacle bulls must overcome to confirm a continuation of the broader uptrend. A decisive breakout, supported by increasing buying volume, would likely trigger further upside momentum and open the path toward the Value Area High.
The $74,000 region now stands as the next significant upside target should resistance give way. Until then, maintaining support remains the priority. Losing the current confluence zone would weaken the immediate bullish outlook, while holding it keeps the structure constructive and supports the case for another leg higher.
From a technical perspective, all eyes remain on whether buyers can continue defending this support and build enough momentum to challenge higher-timeframe resistance.
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Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.