BITCOIN Daily Timeframe 
The price movement of Bitcoin on the daily timeframe shows a significant change in market structure after experiencing strong bearish pressure. When observed from the beginning of the chart period, the price was in a sharp downtrend marked by a series of lower highs and lower lows, along with the price consistently below the 100-day Moving Average (MA 100) and the 200-day Moving Average (MA 200). This condition indicates strong seller dominance, where every price increase tends to end as a temporary correction before selling pressure reappears. The declining MA 200 serves as a key indicator that the long-term trend is still bearish. Meanwhile, the MA 100 has been below the MA 200 for most of the previous period, reinforcing the confirmation of a death cross, which usually reflects a distribution phase in the market or a significant correction after a previous bullish cycle. During this phase, whenever the price approaches the MA 100, that area functions as a dynamic resistance holding back price increases. However, a change in character starts to emerge as the price forms a strong base around the horizontal support area of 60,400–60,000. This zone becomes crucial as the price failed to penetrate it deeper several times, indicating the beginning of accumulation by large market participants. Price reactions in that area create a foundation for a gradual reversal, followed by the formation of the first higher low as an initial indication of a trend change. After this accumulation phase, Bitcoin begins to show a gradual recovery with more stable increases. The price successfully breaks above the MA 100 and holds above it, which is a significant technical signal that the bearish momentum is weakening. The MA 100 then transitions from resistance to dynamic support, supporting price increases slowly but consistently. The price structure becomes more constructive with the formation of a series of higher highs and higher lows, indicating a return of buying interest to the market. In terms of horizontal support and resistance, the 73,700–74,000 area serves as a significant medium-term support as it was previously the initial breakout area for the uptrend. As long as the price stays above this zone, the medium-term bullish bias remains intact. The next support is around 70,500–71,800, which was a consolidation area before and a market equilibrium point during the trend transition phase. A breakthrough below this level could bring back bearish pressure. On the upside, strong resistance is seen around 79,700–81,300. This area currently acts as a major barrier to price increases due to its proximity to the still declining MA 200. The presence of the MA 200 above the price creates dynamic resistance that reinforces the horizontal barrier. Price reactions starting to stall in this zone indicate that the market is testing the strength of the new trend forming. A clean breakout above the MA 200 would be a confirmation signal of a long-term trend change from bearish to bullish. The next major resistance is around 84,400, followed by psychological areas above 89,400 up to nearly 98,000, which previously served as a significant distribution zone. These areas could become targets for increases if the bullish momentum continues to develop stronger after the breakout confirmation. The rising MA 100 indicates that the medium-term bullish momentum is getting healthier, while the narrowing gap between the price and the MA 200 depicts an ongoing trend transition phase. Such conditions often become crucial periods where the market determines whether the rebound is just a relief rally or the beginning of a new uptrend cycle. Overall, the current technical structure of Bitcoin is in a recovery phase after a long bearish period. The price has successfully reclaimed the MA 100 but still faces a crucial test around the MA 200. As long as the price can maintain positions above key supports and continue to form higher lows, the possibility of further increases remains open. Conversely, a failure to break through the main resistance around the MA 200 could trigger a longer consolidation phase before the next trend direction is truly established. The interaction between the price and the MA 100, MA 200, as well as reactions to horizontal support and resistance levels will be the key factors determining whether Bitcoin is ready to enter a new bullish phase or still needs additional time to build stronger accumulation before continuing its long-term uptrend.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade
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