The price of Bitcoin is currently moving in a consolidation phase, near short-term technical levels that could determine the next major direction. While the broader long-term trend has already been discussed extensively by analysts, recent short-timeframe chart activity shows the market is still forming a corrective structure rather than a full bullish breakout.
Support zone remains the key battleground
Bitcoin continues to hold an important short-term support area between $66,200 and $67,800, a range that many traders consider critical for maintaining the current recovery attempt. As long as this zone remains intact, the market can continue building an upward corrective structure, often described by technical analysts as an ABC formation, which is typically part of a broader “B-wave rally.”
A B-wave rally usually represents a temporary recovery within a larger corrective cycle. Because these moves are often irregular and unpredictable, analysts warn that expectations should remain flexible. Price action during such phases tends to be slower and less aggressive compared with the strong momentum seen in clear bull runs.
Resistance levels to watch next
For bullish momentum to strengthen, Bitcoin must first break above the $68,380 resistance level, which currently acts as the first structural signal that buyers are regaining control. A confirmed breakout above this level could shift market focus toward the next resistance zones around $69,250 and $70,800. Clearing these areas would open the door for a stronger upward continuation and increase the probability of higher price targets in the near term.
However, until these resistance levels are decisively breached, the market remains in a waiting phase, with price movements appearing relatively muted and lacking strong directional momentum.
Downside risk still present
If Bitcoin fails to hold the current support zone, analysts warn that the next larger support could lie near the $55,000 to $56,000 range. A breakdown below the upper support area around $66,257 would weaken the short-term bullish scenario and signal the possibility of another corrective leg downward before any sustained rally begins.
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