FX.co ★ FX-Perfact | #Bitcoin chart analysis

BITCOIN Daily Timeframe: Bitcoin's price movement on the daily timeframe currently shows a quite interesting change in market structure after experiencing very deep bearish pressure from late January to early February 2026. The chart shows that an aggressive decline briefly brought the price down to a strong support area around 60,000–65,000. This zone then became a significant turning point due to a significant buying reaction, forming a consolidation phase before the market finally began to gradually rise. The increase that occurred from mid-March to early May indicates that buyers are regaining control of the market, although the long-term bullish trend still requires further confirmation. Regarding the moving average indicator, the 100-day moving average (MA), marked by the blue line, is starting to signal a recovery in the intermediate trend. The price is currently moving steadily above the 100-day MA, indicating that bullish momentum is starting to re-establish after a prolonged period of movement below it. As long as the price can stay above the 100-day MA, there is still a good chance for further upside. Furthermore, the 100-day MA is now starting to change direction, becoming flatter and tending to rise, indicating that selling pressure is weakening compared to the previous period. However, Bitcoin's biggest challenge currently lies at the 200-day moving average (MA200), marked by the red line. This area serves as a key dynamic resistance level, still limiting the potential for price growth. In the last few candles, the price has begun to approach the 200-day moving average (MA200) and has tested it, but has not yet been able to break through decisively. This indicates that sellers are still actively defending this area as a distribution zone. In technical analysis, the 200-day moving average (MA200) is often considered a key indicator for determining the direction of the long-term trend. As long as the price remains below the 200-day moving average (MA200), the market is generally in a bearish recovery phase, transitioning to a bullish trend, rather than a full-fledged bullish trend.

In terms of horizontal support, the first significant area is around 79,484. This level previously served as a breakout area and now has the potential to transform into new support. As long as the price remains above this zone, the short-term bullish structure remains intact. If a deeper correction occurs, the next support level will be located between 73,782 and 74,979, adjacent to the 100-day moving average (MA100). This zone is a key defensive area for buyers, as it has previously been a point of price rebound. If this support is broken, selling pressure could potentially increase again towards the 70,551 area and even 65,040 area as the daily major support area. Meanwhile, the nearest horizontal resistance is located at 84,426, which currently overlaps with the 200-day moving average (MA200). This zone is key to determining whether Bitcoin can continue its upward movement or experience further rejection. If a valid breakout occurs above this area with strong volume, the opportunity for an increase towards the next resistance level, around 89,462 to 93,074, becomes even more open. Even in a more aggressive bullish scenario, the price could potentially retest the psychological area of 98,000, which previously served as a key peak in early January. The daily candlestick structure also indicates buyer dominance in recent weeks. The gradually forming series of bullish candlesticks demonstrates a healthy accumulation, rather than an overly impulsive rise. This condition typically provides the opportunity for a more stable uptrend, supported by the consistent formation of higher lows. However, momentum began to slow as the price approached the 200-day moving average (MA200), indicating the market is awaiting a new catalyst to determine its next direction. Overall, Bitcoin is currently in a crucial phase. The price's position above the 100-day moving average (MA) indicates ongoing recovery, but the presence of the 200-day moving average (MA) as key resistance means the long-term bullish trend is not yet fully confirmed. As long as the price remains above the support area of 79,484 and the 100-day moving average (MA), the market bias remains moderately bullish, with the possibility of further upside towards 84,426 and 89,462. Conversely, a failed breakout of the 200-day moving average (MA) could trigger profit-taking and lead the price to correct further towards lower support levels before determining the next trend direction.