Bitcoin Holds Above Key Support — Can Bulls Break Through 66K? for BITSTAMP:BTCUSD by Yong726
Market View Bitcoin remains in a broader recovery structure on the 4H chart after bouncing strongly from the late-June lows. Following the sharp decline from the 78,000 region toward 58,500, buyers successfully defended the lower support area and gradually rebuilt upward momentum. Price has since formed a sequence of higher lows and is now testing the upper boundary of the recent recovery range around 66,000. Although short-term momentum has improved, BTC is still approaching a significant …
Market ViewBitcoin remains in a broader recovery structure on the 4H chart after bouncing strongly from the late-June lows. Following the sharp decline from the 78,000 region toward 58,500, buyers successfully defended the lower support area and gradually rebuilt upward momentum. Price has since formed a sequence of higher lows and is now testing the upper boundary of the recent recovery range around 66,000. Although short-term momentum has improved, BTC is still approaching a significant resistance zone where sellers may become active again. A confirmed breakout is required before the broader recovery can accelerate. Key Resistance Zone**First Resistance:** 66,000–66,500This is the nearest resistance area where recent rallies have slowed. A confirmed breakout above this zone would indicate renewed buying momentum. **Major Resistance:** 67,500–68,500This represents the next major supply area and previous swing resistance. A sustained move above this region would significantly strengthen the broader recovery trend. Key Support Zone**First Support:** 64,500–65,000This is the nearest support zone and the first level buyers need to defend. Holding above this area would preserve the current recovery structure. **Major Support:** 62,500–63,000This area represents an important structural support formed during the recent advance. A break below this region would weaken the bullish outlook and increase downside pressure. Market SentimentMarket sentiment remains cautiously bullish. Buyers have regained short-term control after the recent rebound, but stronger confirmation above resistance is still required before a sustained bullish trend can develop. Above 66,500, bullish momentum may accelerate. Below 64,500, corrective pressure could return. Please share your view below:Do you think Bitcoin will break above 66,500 and continue toward 68,500? Or will sellers reject the current rally and push BTC back toward key support?More market structure and key level updates will be shared regularly. 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.