After Bitcoin’s decisive breakdown from a multi-month rising channel, the largest crypto is still under immense pressure. While buyers managed to defend the $60K support region and trigger a short-term rebound, the broader structure still favors the sellers unless BTC can reclaim several important resistance levels overhead.
Bitcoin Price Analysis: The Daily Chart
On the daily timeframe, BTC recently confirmed a bearish breakdown below a large ascending channel, accelerating selling pressure and pushing the asset toward the major support zone around $60K, where buyers stepped in and halted the downtrend.
The selloff also drove Bitcoin well below both the 100-day and 200-day moving averages. These MAs are currently positioned around $72K and $76K, respectively. The loss of the 100-day moving average, which was supposed to act as a dynamic support level, signals a significant deterioration in the broader market structure and suggests that sellers continue to control the trend.
Following the sharp decline, BTC found demand near $60K and staged a modest recovery toward the $64K region. However, the rebound remains relatively weak compared to the magnitude of the preceding drop.
The first major resistance now sits between $65K and $68K, where a previous support area has turned into supply. Above that, the more critical resistance zone is located around $72K to $75K, which coincides with the 100-day moving average and the lower boundary of the broken ascending channel. A successful reclaim of this area would be the first indication that the recent breakdown may have been a bear trap.
On the downside, the $60K region remains the most important support level. Losing this zone could expose Bitcoin to a deeper correction toward lower liquidity clusters and potentially trigger another wave of capitulation.
BTC/USDT 4-Hour Chart
The 4-hour timeframe provides a clearer view of the recent breakdown and subsequent consolidation phase. After losing the $72K to $74K support zone, BTC experienced an aggressive selloff toward the $60K demand area. Since then, the price has formed a short-term ascending channel, indicating a corrective recovery rather than a confirmed trend reversal.
However, the recent rejection from the upper boundary of this channel and the subsequent breakdown suggest that bullish momentum remains limited. Although BTC managed to stabilize and reclaim the mid-$64K area, it continues to trade beneath the key resistance block between $65K and $68K.
As long as the price remains below this supply zone, the current rebound appears corrective in nature. A successful breakout above $68K could open the door for a move toward the larger resistance cluster at $72K to $74K. Conversely, another rejection from current levels would increase the probability of a retest of the $60K support zone.
The RSI on the 4-hour chart has recovered into neutral territory, reflecting improving short-term momentum. However, it has not yet entered strongly bullish conditio
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