Bitcoin continues to face strong resistance as bulls struggle to reclaim higher price levels and restore upside momentum. With the market failing to break through key resistance zones, attention now shifts to key Fibonacci support areas buyers could try to stabilize the current decline and prevent a deeper correction.
Hope for recovery fades unless resistance levels break
After failing to break above the resistance peak at $82,885, Bitcoin is experiencing selling pressure. According to crypto analyst Kamile Uray still points the 4-hour chart to continued downside risk, with price action likely to remain weak as long as Bitcoin trades below the critical $78,203 level.
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Uray explained that if BTC remains below $78,203, the decline could continue towards the $74,929 region, where buyers could try to intervene and slow down the downward momentum. However, it doesn’t generate any meaningful ones recovery out of that zone could trigger a much deeper correction in the broader market. The analyst also highlighted that the range between $71,000 and $68,000 is a key Fibonacci support area where stronger buying interest could emerge.
On the upside, the key resistance levels to watch remain around $98,000 and the $107,000-$109,000 region, which could pose a major barrier if Bitcoin attempts another recovery. collection. Meanwhile, on the other hand, the analyst pointed to the $60,000 level as a critical support zone, noting that a daily close below it would significantly strengthen bearish control and turn any future rallies into corrective rebounds rather than signs of a sustainable recovery.
Bitcoin remains range bound as the market waits for a breakout signal
Crypto analyst Ultimae noted that Bitcoin has been stuck in a range-bound structure for the past ten days, with price action showing little momentum in either direction. According to the analyst, the market is currently stabilizing around the $78,700 level, which was previously identified as a key support zone.
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Currently, staying above this support remains important to maintain near-term stability. However, if Bitcoin breaks decisively below it, the next downside target could be around $77,000 as bearish pressure builds.
On the upside, the analyst pointed out that the $80,000 area no longer acts as a major resistance barrier, while the more significant resistance level remains around $83,000. A successful outbreak over that region could strengthen optimistic momentum and potentially opens the door for a move towards the $87,000 target zone.
For now, Ultimae thinks Bitcoin will likely remain trapped within its current range unless the market produces a clear directional breakout. As long as neither support nor resistance is decisively broken, the broader outlook remains favorable sideways consolidation instead of the start of a strong trend movement.
Featured image from Getty Images, chart from Tradingview.com