Bitcoin: An Important Inflection Point for BINANCE:BTCUSDT by DukesMarketAnalysis
Major resistance tested Bitcoin is once again testing the major $66,000 resistance zone. This has repeatedly acted as an important turning point, making it a key area to watch over the coming days. Higher timeframe trend still bearish The 100/50-day EMAs remain bearishly crossed, with price now pulling back into those moving averages. Until that structure changes, the primary trend continues to favour the bears. Momentum remains neutral RSI continues to chop around the 50 level, reflecting …
Major resistance testedBitcoin is once again testing the major $66,000 resistance zone. This has repeatedly acted as an important turning point, making it a key area to watch over the coming days. Higher timeframe trend still bearishThe 100/50-day EMAs remain bearishly crossed, with price now pulling back into those moving averages. Until that structure changes, the primary trend continues to favour the bears. Momentum remains neutralRSI continues to chop around the 50 level, reflecting the current indecision. Meanwhile, StochRSI is falling but has yet to reach oversold territory, leaving room for further weakness if sellers regain control. A decisive momentA break above $66,000 would be an encouraging step for the bulls and improve the medium-term outlook. However, another rejection would reinforce this area as major resistance and keep the broader bearish structure intact. Bigger picture unchangedWhile Bitcoin may continue to rally in the short term, previous four-year cycles suggest the final cycle low could still lie ahead in the fourth quarter of 2026. Until the higher-timeframe trend changes, that possibility should remain on the table. In SummaryBitcoin has reached another important inflexion point as it tests the $66,000 resistance zone. Although a short-term breakout remains possible, the 100/50-day EMAs are still bearishly crossed, while momentum remains largely neutral. A move above resistance would improve the medium-term outlook, but the higher-timeframe trend has yet to turn bullish. Until that changes, the broader bearish case and the possibility of a later cycle low should continue to be respected. I analyse markets by observing levels, patterns, and structure. I share my process and reasoning for educational purposes, helping readers understand market behaviour without giving advice or predictions. Chart PatternsTechnical IndicatorsTrend AnalysisDisclaimerThe information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in theTerms of Use. Chart PatternsTechnical IndicatorsTrend AnalysisI analyse markets by observing levels, patterns, and structure. I share my process and reasoning for educational purposes, helping readers understand market behaviour without giving advice or predictions. DisclaimerThe information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in theTerms of Use.