Bitcoin’s weekend recovery is facing a problem that has been around for a while: many TradingView analysts still treat the move as just a test rather than an actual reversal.
TL;DR
- After a recent collapse, three TradingView concepts suggest that Bitcoin is struggling under important resistance.
- SHAY_ANALYTICS maintains that BTC will remain bearish so long as the price trades under former triangle support, and Ichimoku cloud.
- Milad_sangari flags a channel breakdown and retest near the $63,600–$63,980 resistance area.
- DomicChaina says the $64,000–$65,000 zone remains the key ceiling unless buyers show stronger follow-through.
Bitcoin Rebound faces a resistance test
TradingView’s bearish trading setups are not all the same. Bitcoin Must immediately fall. The latest rebound hasn’t done enough yet to show that sellers are losing control.
TradingView analyst SHAY_ANALYTICS stated that BTCUSD had confirmed a downward breakdown of a multi-month symmetrical Triangle. Analyst SHAY_ANALYTICS said that the price was still below both the previous support level and the Ichimoku Cloud, indicating a continued downward bias unless the buyers were able to regain the structure.
The setup puts immediate resistance at $73,200, and major resistance close to $75,600. Downside targets are $54,000 and $47,500. What is most important is the setup: previous support has now been turned into resistance. Any rallies in that area may trigger fresh selling until Bitcoin closes above this level.
Short-Term Traders Watch $63,600–$65,000
Milad_sangari presented a second TradingView concept that focused on a shorter-term BTCUSDT chart. Analyst said Bitcoin broke below an ascending paralel channel in the 1-hour timeframe, and that it was now testing the previous channel resistance as support.
The rejection zone highlighted in that analysis sits around $63,600–$63,980, an area the analyst said also lines up with key Fibonacci retracement levels. The current zone is important to traders looking to differentiate between a good rebound and a failed test.
DomicChaina offered a similar read on the four-hour structure, arguing that Bitcoin’s recovery around $63,500 remains below the EMA cluster around $64,050–$64,970. In that view, BTC can still push slightly higher toward $64,000–$65,000, but that area may become a supply zone if buying pressure fades.
Bearish case is conditional
These bearish sets-ups do not represent a binary decision. These are market maps that have conditions. When Bitcoin holds the resistance levels and reclaims them, then the bearish thesis will quickly weaken. If this doesn’t happen, then the chart will remain vulnerable to a further move downward.
The traders are now watching to see if the weekend’s recovery will turn into an ongoing reclaim. A failed move near $64,000–$65,000 would keep pressure on lower supports. If shorts were to make a clean break over that area, they would have to reconsider their position and may be able to move to stronger relief.
These technical analysts’ message is simple: Bitcoin bounced back, but recovery has yet to be proven.
This article has been written and edited by News Desk. Samuel Rae.
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Source: www.newsbtc.com
