Bitcoin is caught between a failed breakout and a possible support reset, with analysts watching whether BTC can hold the $59,000-$61,000 area. If that zone holds, price could bounce back toward $65,000, but another rejection there may keep the bigger downside risk alive.
Bitcoin Break Above $63K Puts $65K Back in Play
Bitcoin has broken above the $63,000 level, putting bulls back near a key short-term decision zone. If BTC holds above $62,800 on the daily close, the next move could target $65,000.
BTC/USDT daily chart. Source: Ted on X, TradingView
The chart shows Bitcoin reclaiming the $62,500-$62,800 area after bouncing from support near $59,000.
That zone is important because it now acts as the main short-term line between continuation and another pullback.
According to Ted, a daily close above $62,800 could push BTC toward $65,000. That would place Bitcoin back into the next resistance area shown on the chart.
If momentum continues, the next higher zones sit around $67,000 and $70,600. Those levels could become the next targets if buyers keep control.
However, the setup still depends on BTC holding the reclaim. Losing the $62,500-$62,800 zone would weaken the breakout and could send price back toward $60,000.
For now, $62,800 is the key level. A daily close above it keeps the $65,000 target in focus, while a breakdown below it would put sellers back in control.
Bitcoin Rejection Keeps $59K-$61K Pullback Target in Focus
Bitcoin has rejected from a key order block after trapping late longs above resistance, according to one analyst. If the move continues lower, BTC could revisit the $59,000-$61,000 zone before any stronger bounce attempt.
BTC price action chart. Source: Kaz on X, TradingView
The chart shows BTC pushing into the upper resistance area before rejecting during the latest session.
According to Kaz, that move trapped late long positions above the range before price turned lower from the order block.
The first downside area to watch is $59,000-$61,000. The analyst says BTC could move into that zone over the next one to two weeks if sellers keep control.
If that support area holds, the chart suggests Bitcoin could bounce back toward $65,000. That move would likely become the next major test for bulls.
However, Kaz expects that bounce to form a lower high rather than a clean bullish reversal. From there, he says BTC could eventually start another move toward the low $50,000s.
For now, the rejection from resistance is the main signal. Holding below the order block keeps the pullback scenario active, while a strong reclaim would weaken the bearish setup.
