Bitcoin had a chance to break higher today, but the move failed to gain real traction, according to one chart analyst who says the setup still points to a bear market where upside attempts tend to fizzle out more often than they succeed.
Why Rally Attempts Keep Failing
The main issue, according to the analysis, is that any move higher right now is fighting against the broader trend rather than confirming a real reversal. That makes these bounce attempts inherently fragile, even when short-term momentum looks encouraging. The overall pressure remains tilted to the downside, though the analyst noted Bitcoin can still grind modestly higher before the larger trend reasserts itself.
Where Support Currently Sits
Bitcoin’s wider support zone sits between $59,317 and $62,436, per the analysis, an area that has held so far and continues to suggest the market retains some underlying strength. Within that broader range, a tighter support area runs from $62,886 up to $63,775, and is being tested now, marking the most immediate zone traders are watching for signs of stability.
Resistance Level That Hasn’t Broken Yet
On the upside, the key resistance level sits near $64,470, a swing high that formed on Tuesday. That level has held firm so far, and the analyst said a confirmed move above it would be the first real sign that a short-term low is actually in place. Until that happens, the recent bounce off support is being treated as a pause within the larger downtrend rather than a genuine turnaround.
