Bitcoin’s momentum has cooled as the largest cryptocurrency struggles to reclaim higher levels, putting focus on whether support near $66,000 can hold. Analysts say a sustained move above nearby resistance is needed to revive bullish momentum, while a breakdown could extend losses toward lower support zones.
Momentum Cools Below Resistance
Bitcoin (BTC) continues to trade beneath a closely watched resistance zone, indicating buyers have yet to reassert control. Crypto market analyst Kamile Uray noted that bulls did not defend the $69,407 level on the 4-hour chart, and while selling pressure pushed prices lower, the pace of the decline has slowed in the current range.
Uray highlighted $66,187 as a key 4-hour support. Remaining above that level keeps the door open for a recovery attempt toward resistance. A failure to hold it, however, could invite a retest of lower supports.
Upside Scenario Hinges on High-Volume Break
According to Uray, a decisive breakout above $69,407 with strong volume could unlock a larger advance. Based on an equal-waves framework, the analyst suggested such a move may ultimately target the $100,000 region. On the daily timeframe, a close above $98,200 would mark a new high within the latest wave structure and bolster the case for a sustained uptrend, Uray added.
The analyst also cautioned that if BTC approaches the $107,000–$109,000 area, a bearish “Libra” formation could emerge. Failure to close above a prior peak in that zone could trigger renewed downside within that pattern context.
Bears Regain Control Below $70K
Separately, analyst Crypto Candy pointed out that BTC lost the $70,000 handle and closed below it, a level previously viewed as important for maintaining bullish momentum. Unless Bitcoin reclaims and breaks above $74,000, the analyst said, near-term momentum may continue to favor the downside with scope for a move toward the $61,000 region or lower.
Key Levels to Watch
- Immediate support: $66,187
- Additional supports: $62,433; $55,230; $47,256
- Near-term resistance: $69,407; $70,000; $74,000
- Higher-timeframe markers: Daily close above $98,200; upside target scenario near $100,000; potential caution zone at $107,000–$109,000 (analyst view)
Price remains sensitive to macro conditions and liquidity, and traders are watching whether BTC can defend support and force a breakout, or concede to further downside pressure.