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BTC Bitcoin technical analysis: Analysts believe that it is necessary to hold on to the US$61300 support to confirm continued recovery.
Although Bitcoin has recently successfully restored some short-term technical support, analysts are still cautious and believe that it is too early to assert a sustainable upward reversal. After gaining support in the $60500 to $61000 range, prices rebounded above certain key moving averages on the daily chart. However, there has been no clear signal over the longer time frame that the downtrend has truly ended.
Support confirmation attracted analyst attention
According to current market analysis, Bitcoin\'s first key area is in the range of US$60500 to US$61300. If buying interest reappears in the region, it may support the current short-term recovery. But analysts stressed that a strong rebound alone was not enough; prices must retest and maintain the region to build a solid foundation.
Max Trades pointed out that the lower shadow line in recent transactions indicates buying interest, but the overall market structure remains fragile in the mid-to-high time frame. The analyst believes that if Bitcoin falls back to the shaded area around $61300 and finds support, the possibility of a larger trend change will increase.
Max Trades emphasized that recent upward movements alone do not represent a complete reversal; the US$61300 region must be held and then achieved in the broader market structure to confirm the upward trend.
At the same time, Bitcoin is retesting its so-called \"golden pocket\"-an area corresponding to the Fibonacci callback tool\'s 0.618 to 0.65 level. In technical analysis, this area is often regarded as an important resistance point during a limited correction in a downtrend.
Mini-term:\"Golden pocket\" refers to the range of 0.618 to 0.65 in the Fibonacci callback tool. Technical analysts usually focus on this area, which could pose resistance to attempts to rebound in a downtrend.
If prices encounter resistance in this area and fall below the US$60500 to US$61000 support level, the current recovery narrative may weaken again. In this case, the seller may regain control of the market.
Short-term signals face resistance
On the daily chart, Bitcoin has successfully rebounded above the 10th and 20th moving averages, forming a cross signal that may be interpreted as an initial sign of positive momentum. However, traders remain generally cautious until stronger resistance is overcome.
The next important barrier is the 50-day moving average, currently at $65928. This level is the first important resistance point; if Bitcoin can close at it, further upside gaps could appear on the chart.
Technical area:
Main support: US$60500 - 61300, critical to sustained recovery.
50-day moving average: US$65928, the first important resistance.
Fair value gap area 1: US$67000-US$68500, initial upside gap.
Fair value gap area 2:$71000-$73000, the next resistance area.
Fair value gap area 3: US$74000-US$76000, wider upper resistance.
Multiple fair value gaps can be identified above current prices, which are in the range of US$67000 - 68500, US$71000 - 73000, and US$74000 - 76000. If upward momentum strengthens, these areas are likely to become key targets for traders.
Mini-term: Fair value gaps refer to relatively illiquid price areas on the chart created by rapid market movements. Some analysts believe prices may eventually return to these gaps.
Although the bullish cross on the daily chart opens up space for buyers in the short term, the pattern may quickly evolve into a lower high structure if it fails to break through the 50-day moving average.
Liquidity data also shows that a large number of leveraged positions have accumulated above the current price. If momentum increases, these levels may act like magnets to attract prices upwards. Conversely, if you cannot hold above the moving average, key support areas may again face pressure.
