Technical analysis of Bitcoin’s price action on the daily candlestick timeframe places the cryptocurrency around the same resistance area where previous relief rallies have failed, making the current price area a key decision point for the next phase of the market. At the time of writing, Bitcoin is trading around $62,950, and bulls are trying to stabilize above $60,000 after a few recent moves. days of heavy selling pressure.
On-chain analyst VoidOnChain has laid out a precise roadmap that charts the path of the current price action, but the roadmap doesn’t promise an immediate recovery.
Bitcoin Returns to the Zone Where Aid Rallies Continue to Fail
Bitcoin’s daily chart reveals a pattern of decreasing relief meetings, each fails at a lower high. Looking at the previous structure in the chart below, BTC moved through a rising channel, entered a selling zone at the end of 2025, and then collapsed.
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The current setup shows a similar series, with Bitcoin already rejected from the bull trap level around $82,000 in May 2026 before sliding into the lower range. Since then, Bitcoin has been on a downward trend and has broken the channel’s lower trendline.
The daily candlesticks have been completely bearish and engulfed since the collapse, and this has caused the Bitcoin price to approach a buy zone below $50,000 which acted as a buy zone in 2023. Interestingly, the roadmap in the chart, as shown below, starts with Bitcoin breaking below $60,000, before moving into the buy zone around $53,000 and then $47,000.
What to expect in the next three months
The analyst’s short-term outlook has a specific order: $60,000 as the immediate target, $53,000 as the next key level expected so early next week, and a deeper flush to $47,000 in July, which marks the ultimate low. This movement corresponds to a C wave on the chart, the same as the C wave that occurred from January to early February 2026.
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Once the corrective structure is complete, VoidOnChain’s roadmap initially predicts a recovery to $87,000, followed by an expansion to $151,000 in January 2027.
The Bitcoin market is currently divided between fear and anxiety buying by some smart traders. The bears controlled the market over the weekend, but selling pressure began to ease as the week progressed.
Strategy also added to the accumulation story after announcing a $101.3 million Bitcoin purchase between June 1 and June 7, acquiring 1,550 BTC at an average price of $65,333. The purchase helped alleviate some concerns which followed Strategy’s previous Bitcoin sale, which had weighed on market sentiment. Still, many crypto analysts believe that Bitcoin has yet to provide a clear bullish confirmation, and Bitcoin might suffered another crash to an accumulation zone.
Featured image from Pixabay, chart from Tradingview.com