Bitcoin Faces Short-Term Pressure as Analysts Track Key Support and Resistance Levels
Key Takeaways
- •Bitcoin’s short-term rebound stalled below resistance near $64,600, leaving the immediate bearish setup in place.
- •Support near $63,800 remains a key short-term level, with a break lower exposing the $63,450-$63,600 area.
- •Trader Kaz’s weekly chart analysis pointed to a possible final decline into the $49,000-$59,000 support zone before any broader recovery.
- •The proposed recovery scenario would weaken if Bitcoin sustained a breakdown below roughly $49,300.
- •A potential move toward $160,000-$180,000 was presented as a speculative technical scenario rather than a confirmed forecast.
Bitcoin remained under short-term pressure after a rebound stalled below $64,600, leaving the possibility of another move toward immediate support. A broader chart analysis also pointed to a possible final decline into the $49,000-$59,000 area before any larger recovery scenario, with a highly speculative upside region between $160,000 and $180,000.
The levels highlighted by analysts matter because Bitcoin is trading between nearby support and resistance on shorter timeframes while a separate weekly chart frames a much wider range. In technical analysis, these zones are watched as areas where buyers or sellers have previously become active, but they do not confirm direction on their own.
Bitcoin Chart Points to Possible Final Bear-Market Test
Bitcoin could face one last move lower into the $49,000-$59,000 support zone before attempting a broader recovery, according to an analysis shared by trader Kaz on X: https://x.com/XBTkaz/status/2081104484235989464. The projected path identifies a potential selling region between $160,000 and $180,000, although the setup remains highly speculative and dependent on multiple unconfirmed technical developments.
BTC weekly chart. Source: Kaz/TradingView
The chart places Bitcoin near the upper boundary of a proposed bidding zone following a prolonged decline from its previous record high. Kaz’s analysis suggests that price could consolidate within this area and possibly make one more lower move before the wider bear-market phase is considered complete.
The recovery scenario would remain intact if Bitcoin holds above roughly $49,300. From there, BTC would still need to build a series of higher lows and reclaim major resistance levels before any projected expansion could gain technical credibility.
One significant milestone in that scenario would be a return toward the previous all-time-high area near $125,000. The chart suggests Bitcoin could move briefly above that region, retrace toward $100,000, and then attempt another advance.
The final upside projection in the analysis places BTC within a broad $160,000-$180,000 selling zone. However, that target depends on several steps occurring over the next two years and should be viewed as a possible technical scenario rather than a confirmed forecast.
A sustained breakdown below $49,300 would weaken the proposed bottoming structure and expose Bitcoin to a deeper correction. For now, the chart indicates a possible late-stage bear-market setup, but buyers would still need to defend support and confirm a reversal.
Rebound Stalls Below $64,600 as Short-Term Resistance Holds
Bitcoin’s relief rally stalled below resistance near $64,600, keeping the short-term bearish setup in place. Analyst Crypto Tony said the rebound reached the expected area before sellers pushed BTC back toward $64,300, according to an X post: https://x.com/CryptoTony__/status/2081267522817695870.
BTC one-hour chart. Source: Crypto Tony/TradingView
The chart shows Bitcoin recovering from support near $63,800 after a sharp decline. However, buyers did not reclaim the former breakdown area around $64,600, indicating that the move may have been corrective rather than the beginning of a stronger reversal.
Repeated rejection below $64,600 could send BTC back toward the $63,800 support area. A confirmed break below that level would expose the next downside region around $63,450 to $63,600.
For the bearish short-term scenario to weaken, buyers would need to reclaim $64,600 and hold above it. Such a move could reopen a path toward $65,000 and the recent local highs.
At present, Bitcoin remains positioned between support near $63,800 and resistance near $64,600. Losing the lower boundary would favor another decline, while a breakout above resistance would invalidate the immediate short setup. Traders watching the next move are likely to focus on whether BTC can hold the lower end of that range or turn $64,600 from resistance into support.
