Bitcoin is showing increasing signs of weakness as bearish pressure continues to build below a critical technical level. As key support zones are threatened and reversal patterns begin to take shape, BTC could enter a decisive pullback phase that could determine the market’s next major direction.
Buyers continue to lose momentum as the decline deepens
Crypto analyst Kamile Uray declared that Bitcoin buyers continue to look weak as the market faces a new wave of downward pressure. The analyst explained that if BTC breaks below the key bottom at $74,929, it could confirm the completion of the final shoulder in a developing OBO structure while remaining below the previous low at $76,044.
Unless Bitcoin can reach a decisive 4-hour candle above $78,213, the bearish trend is likely to continue. A sustained crisis below $74,929 could open the door for a deeper decline towards the $71,000-$68,000 region, which has been identified as a key Fibonacci support zone.
Kamile Uray further explained that if stronger buying momentum eventually emerges from these lower levels, Bitcoin could attempt another recovery rally. On any upward move, the market should overcome resistance around $98,000, followed by the larger resistance area between $107,000 and $109,000.
However, if Bitcoin struggles to maintain strength above the recent peak near $126,199, the risk of another major correction phase would remain active. In the event of a much deeper decline, Kamile Uray highlights that the $60,000 level stands out as a crucial long-term support area that could play an important role in the future direction of the market.
Bitcoin Bullish Reversal Structure is Starting to Turn Bearish
Another crypto analyst Merry__PT has done that noted that Bitcoin’s recent price action is undergoing a significant structural shift. While the market initially formed a recognizable W bottom, a classic signal of a bullish reversal, this structure is now evolving into a Head and Shoulders top, which has historically been seen as a symbol of a bearish reversal.
The most critical technical element to look forward to is the blue horizontal base neckline. This support zone acts as the basis for both the current structure and the potential for a larger trend shift. Once this neckline is clearly defined and widely recognized by market participants, the Head and Shoulders formation will gain significant validity.
If price confirms a break below this level, the pattern will likely transition from a mere technical observation into a real catalyst for a sustained pullback. In addition to this structural pivot, the upcoming monthly close of the candle is critical, acting as a crucial axis for gauging future sentiment and market direction.