Bitcoin (BTC), which set a new low for the year at $59,000, is now gaining interest from buyers. The order book data and the liquidity show that there is an impending rally. Near $65,000, more than 2 billion dollars in short liquidities are concentrated. BTC’s ask-bid ratio is still positive.
The shift in positioning and sentiment also aligns with a bullish chart pattern targeting the $67,000–$70,000 range.
BTC Bulls attempting to regain control close to support
Bitcoin’s recent rise to $63,500 came after a bullish divergence on the 4-hour chart between the price of bitcoin and the relative-strength index (RSI). During the early June sell-off, the price formed a lower bottom while the relative-strength index (RSI), a higher one. This signal indicated that the downside momentum was fading before buyers entered.
BTC/USD, four-hour chart. Source: Cointelegraph/TradingView
Bitcoin trades in an ascending triangle. The daily fair value gaps between $67.500 and $70,005, an area left over from the recent market correction, may be the target of a confirmed breakout.
This is supported by the order book. Hyblock’s data indicates that after Bitcoin reached its lowest level of the year at $59,000, last Friday, the bid/ask was still positive. This measure tracks the aggressive activity of buying and selling. Positive readings indicate that buy-side orders for the market have slightly exceeded sell-side orders.
BTC Price, Bid-Ask Ratio, Spot CVD. Source: Hyblock
Cumulative volume delta data (CVD), which is a measure of cumulative volume, provides additional support. The data for smaller cohorts, up to $100,000 and $53,000, showed an improvement in buying with $157,000,000 and $53,000,000 respectively. Meanwhile, participants between $100,001 and $10 million had reduced their net selling pressure by 900,000,000.
The crypto analyst Kripto Hold highlighted an $2.68 billion cluster of short-liquidity near $64,600 and called it the main upside liquidity pool.
The analyst said Bitcoin’s capacity to maintain a price above $63,000 after the renewed US-Iran conflict adds further weight to recovery. The spot inflows for CVDs are also indicative of demand.
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BTC must reclaim 66,000 dollars soon, says analyst
PILTR, Market Analyst noted BTC’s exposure to long positions has increased steadily over the last five days. The current position tracks 237 levels of long positions against 128 levels of short positions, resulting in an estimated $4 billion imbalance.
These levels of price are very similar to those predicted by crypto-trader Ardi. argued Bitcoin’s price is still within a pennant bear after it fell from $83,000 towards $59,000. Analysts identified the levels of $64,000 and $66k as being the most critical for current recovery.
BTC/USD four-hour Analysis by Ardi. Source: X
Ardi says that a move over $64,000 will clear the horizontal resistance as well as the pennant pattern, giving Bitcoin more room for growth. Next, the $66,000 level is a major support that has now become resistance.
This would be a strong argument for moving into the zone of liquidity above price, and filling the gap in fair value between $68,000 to $70,000.
PLTR did, however, also highlight weekend position as a variable that could be impacted in the near term. The analyst pointed out that, after building up a long-term exposure over a period of time, weekly profits-taking can often lead to opposite flows in the weekends.
Related: Bitcoin miner ‘capitulation’ comes as trader sees later 2026 bear-market bottom
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Source: cointelegraph.com
