Bitcoin Price Analysis: BTC Rally Loses Steam as Historical Resistance Comes Into Play
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Bitcoin's rally has pushed price into the $65.5K-$66.7K supply zone after reclaiming a descending trendline, testing whether buyers can sustain the recovery in the coming sessions. Despite this structural improvement the market remains capped beneath the declining 100-day moving average and still below the 200-day moving average, indicating resistance and downside risk for crypto price momentum.
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Bitcoin’s latest rally has carried the asset back into an area where sellers have previously regained control. The coming sessions should reveal whether this recovery has enough strength to continue or if another rejection is waiting around the corner.
Bitcoin Price Analysis: The Daily Chart
On the daily timeframe, BTC has extended its recovery into the $65.5K-$66.7K supply zone after successfully reclaiming the descending trendline that had capped the price action for weeks. While this breakout represents a notable improvement in market structure, the broader trend remains constrained beneath the declining 100-day moving average, with the 200-day moving average positioned even higher.
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