Bitcoin’s recent uptick faces challenges as several TradingView analysts interpret the movement not as a confirmed turnaround, but as a potential retest. According to insights shared by SHAY_ANALYTICS, BTC continues to exhibit bearish tendencies while lingering below critical resistance levels. Key insights from three TradingView analysts indicate Bitcoin’s ongoing struggles beneath significant resistance following a recent downturn. Despite a rebound over the weekend, analysts caution that sellers still hold the upper hand, and the latest bounce has yet to establish a strong reversal. SHAY_ANALYTICS characterized the current situation as a bearish breakdown from a multi-month symmetrical triangle pattern, emphasizing that Bitcoin remains beneath previous support levels and the Ichimoku cloud. The situation reveals that former support levels are now acting as resistance, with immediate resistance identified around $73,200 and critical resistance near $75,600. Conversely, the downside targets are marked at $54,000 and $47,500. Analysts, including Milad_sangari and DomicChaina, are focusing on short-term structures, highlighting that recent price movements close to $63,600–$63,980 align with essential Fibonacci retracement levels. The bearish sentiment is not absolute, as these analysts emphasize that should Bitcoin reclaim and sustain above crucial resistance zones, the bearish outlook could rapidly diminish. Until then, traders remain vigilant to see if the weekend recovery can sustain itself or if it will falter within the resistance range. A failure to push beyond $64,000–$65,000 could maintain downward pressure, while a decisive breakthrough may prompt a re-evaluation among short sellers.
