Bitcoin is retesting a key support area as the weekly bull market support band and the 4-hour Fibonacci pullback point to the same pressure zone.
The latest charts show $BTC must hold above the $74,917–$76,000 area to avoid turning the recent rebound into a failed breakout.
Bitcoin Retests Bull Market Support Band as $75K–$76K Becomes Key
Bitcoin is retesting the bull market support band on the weekly chart, with price sitting near the same area that now separates a breakout attempt from a failed move.
The chart shared by Daan Crypto Trades shows $BTC trading around $78,388 after pulling back into the bull market support band. The band is marked near $75,796 to $78,747, placing Bitcoin directly inside that key weekly zone.
Bitcoin Bull Market Support Band Retest. Source: Daan Crypto Trades on X
$BTC also remains above the weekly 200EMA at $68,800 and the weekly 200MA at $61,106. Those levels sit below the current price and act as broader support if the market loses the support band.
Daan said bulls need to see a bounce from this area to confirm a proper breakout. Without that bounce, the move above the support band may not be strong enough to confirm trend continuation.
The main level to watch is the $75,000–$76,000 area. If Bitcoin falls back below that zone and closes the weekly candle there, the analyst said the move could look like a deviation or dead cat bounce.
For now, the weekly chart shows Bitcoin at a decision point. A bounce from the support band would support the bullish structure, while a weekly close below $75,000–$76,000 would weaken the breakout case.
Bitcoin Weakens at 61.8% Fib as $74,917 Support Comes Into Focus
Bitcoin is showing a weak reaction from the 61.8% Fibonacci retracement level on the 4-hour chart, keeping the risk of another leg lower in focus.
The chart shared by Man of Bitcoin shows $BTC trading near $78,323 after testing the short-term Fib area around $77,851. The next nearby retracement level sits near $76,549, while the key support level remains at $74,917.
Bitcoin 61.8% Fib Pullback Chart. Source: Man of Bitcoin on X
The analyst said Bitcoin needs to hold above $74,917 to keep the orange roadmap intact. This level now acts as the main line between a normal pullback and a deeper correction.
If $BTC loses $74,917, the chart points to a deeper downside zone between $73,357 and $68,433. That area includes the 0.5, 0.618, and 0.786 retracement levels from the lower projected range.
On the upside, Bitcoin first needs to reclaim the $78,779 area and then move back toward $81,960. A stronger recovery above that zone could put the higher targets near $86,582, $89,529, and $94,621 back in focus.
For now, the chart shows Bitcoin still holding above the key invalidation level, but the bounce from the 61.8% Fib remains weak. That keeps short-term pressure tilted lower unless $BTC quickly reclaims the upper Fib levels.
