In its latest technical analysis of Bitcoin, cryptocurrency analytics company MakroVision noted that the market is once again under pressure in the short term.
According to the analysis, Bitcoin’s price has entered a downward trend again after its recent recovery attempt, and the inability to break through the critical resistance zone between $71,000 and $75,000 indicates that the uptrend remains weak. This situation is interpreted as suggesting that the movement in recent weeks may be a temporary technical reaction rather than a permanent trend reversal.
According to MacroVision, the short-term chart outlook remains weak. The increased selling pressure, particularly after the rejection from a strong resistance zone, indicates that the market has yet to establish a solid upward structure. Analysts suggest that current price movements should be considered more as reaction rallies occurring within a fragile market structure.
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On the other hand, technically significant levels are also noteworthy. In upward movements, the $71,000–$75,000 range continues to be the main resistance zone, and downward pressure is expected to continue as long as the price remains below this level. Below, the $64,000 level stands out as a critical support area in the short term. This region is considered a technically significant threshold due to its convergence with previous high lows and high liquidity. In deeper pullbacks, the $59,000–$61,000 range is being monitored as a strong main support zone.
According to the analysis, the determining factor in the market going forward will be how quickly Bitcoin can absorb its current weakness. If the price recovers and stabilizes in the short term, a continuation of sideways movement within a certain range seems possible. However, if selling pressure continues and especially if the support around $64,500 is lost, the decline could accelerate, and in this scenario, the possibility of retesting the $59,000-$61,000 range or even falling below this region could strengthen.
*This is not investment advice.
