Bitcoin is holding steady near the top of its recent bounce, pressing right into the underside of the 200-day moving average (red) and the 50-day moving average (blue), both of which are currently acting as resistance. This is a critical test zone – price has stalled here multiple times, and bulls will need to push decisively above these levels to flip the broader trend.
So far, this rally has been impressive off the bottom near $73,835, a key level that also served as the May 2024 all-time high. That horizontal line continues to act as a magnet for price, offering strong support on each revisit.
Volume remains relatively muted on this climb, which could suggest waning enthusiasm or simply consolidation before a stronger move. A decisive close above both moving averages would add weight to the bullish case, while rejection here could result in another retest of support levels below.
For now, Bitcoin is stuck in the middle of its range, making this a “wait and see” moment. Momentum is with the bulls, but they still have some major levels to conquer before the trend flips back in their favor.