FX.co ★ #Bitcoin chart analysis

We currently have a very interesting situation developing in Bitcoin. During the night, the market started moving lower, and shortly afterward trading activity slowed significantly. I also noticed that trading on our broker platform was temporarily paused until a certain time on Saturday, which added even more uncertainty to the overall picture. At the moment, it is still difficult to determine exactly how this recent decline should be interpreted. The move lower happened alongside weakness in major currencies, although Friday selloffs are not unusual for Bitcoin and other risk assets. Because of this, it remains unclear whether the current drop is simply a normal correction after the recent rally or the beginning of a larger bearish reversal toward the downside. The situation is complicated mainly because the market has not yet established a strong, long-lasting trend. The recent upward movement was relatively short-lived, and while bullish momentum existed, it was not strong enough to fully confirm a sustained breakout. At the same time, the main upside targets still remain open and technically achievable if buyers regain enough confidence and momentum. In my opinion, the market still has room for recovery, especially if external conditions become more favorable again.

One factor that could help Bitcoin recover is renewed weakness in the US dollar. If the dollar begins losing strength again on Monday, which currently seems possible, cryptocurrencies could benefit from improved risk sentiment and renewed buying activity. Historically, Bitcoin often performs better when the dollar weakens because investors become more willing to move into higher-risk assets. Despite the recent pullback, I do not believe the bullish structure has suffered major damage yet. The bulls have not experienced a true breakdown, and price has not decisively fallen below the key moving average. In addition, Bitcoin is still holding above important previous highs, which suggests that the broader market structure remains relatively stable for now. Because of this, I still see more reasons to expect a recovery rather than a complete collapse. Even if Bitcoin does not immediately return to last month’s highs, a rebound toward the 78,500 region still appears realistic under the current technical conditions. Overall, the market remains uncertain in the short term, but the broader bullish outlook has not yet been fully invalidated.