Bitcoin price remains under pressure after rejection at the mid-resistance range near $68,000, increasing the likelihood of a corrective move towards the $60,000 support.
Summary
- Bitcoin rejected key mid-resistance range near $68,000, maintaining bearish structure
- Weak volume confirms relief bounces lack bullish conviction
- Price has a higher probability of rotating towards the low support of the $60,000 range
Bitcoin (btc) price action continues to show signs of structural weakness following a rejection from the mid-range, reinforcing the current bearish market environment. After attempting to stabilize within the broader range, Bitcoin failed to reclaim a key resistance region near the Point of Control (POC) around $68,000, a level that has repeatedly dictated the direction of the market.
The recent rejection highlights fragile pricing conditions, with sellers maintaining control over shorter time frames. Instead of moving into a bullish expansion, Bitcoin has begun to turn lower within the established trading range, increasing the probability of a move towards the low support range near $60,000, where the yearly low is currently located.
From a broader perspective, Bitcoin remains stuck in a corrective phase rather than a confirmed recovery trend, with technical signals favoring a continuation of the decline unless key resistance levels are recovered.
Key Bitcoin Price Technical Points
- Medium resistance range at $68,000 holding firm: Price continues to reject the control zone point
- Weak bounce without volume confirmation: Buying pressure remains insufficient to reverse the structure
- $60,000 Range Low Support in Focus: Next big downside target is aligned with yearly support
The most important technical development in the recent price action is Bitcoin’s inability to stay above the mid-range resistance. This area, located around $68,000, represents the checkpoint where most of the recent trading volume has occurred. Acceptance above this level would have signaled a shift towards a bullish continuation, but rejection confirms the ongoing distribution.
Following the rejection, Bitcoin established another local low near the value area low, reinforcing the bearish internal structure. Markets often trend through a sequence of lower highs and lower lows when sellers maintain dominance, and Bitcoin’s current behavior aligns with this pattern.
Although the price managed to produce a short-term bounce after taking advantage of liquidity below recent lows, the rally lacked strong volume participation. Without a significant influx of buying, relief rallies tend to act as temporary pauses rather than true pullbacks. This lack of conviction suggests that market participants remain hesitant to aggressively accumulate at current levels.
Liquidity Sweep Fails to Trigger Strong Reversal
Bitcoin recently took advantage of quiescent liquidity near the lower limit of value, a move that typically attracts buyers looking for discounted entries. However, the reaction behind this wave of liquidity has been relatively muted. Instead of aggressive bullish expansion, the price has continued to compress below the resistance.
This behavior indicates that the market may still be in a redistribution phase, where the price turns downward to locate stronger demand. When liquidity grabs fail to produce impulsive bullish momentum, it often indicates that deeper support levels remain unfinished targets.
As long as Bitcoin continues to trade below the $68,000 mid-resistance range, sellers will maintain structural control. Each failed attempt to recover this level increases the probability of further downward exploration.
Low of $60,000 range emerges as key magnet
Technically, the next logical destination for the price is near the low support range at $60,000. This area represents a significant high time frame level, aligns with the yearly low and serves as an important liquidity pool within the broader range structure.
Markets frequently rotate between the extremes of the range when equilibrium cannot be established at the midpoint. Given Bitcoin’s continued mid-range rejection and weakening momentum signals, a move towards low-range support becomes statistically more likely.
The $60,000 level is expected to act as an important decision zone. If price reaches this region, traders will closely monitor whether buyers step in to defend support or whether acceptance below opens the door to a deeper corrective phase.
What to expect from the next price action
From a technical, price action, and market structure perspective, Bitcoin remains bearish as it trades below the $68,000 mid-resistance range. Unless the price recovers and sustains above this level, the probability favors a continued downward rotation towards the $60,000 support.
Short-term bounces are possible, but are likely to remain corrective until bullish volume is restored and structural resistance is decisively restored.
