FX.co ★ #Bitcoin chart analysis

Bitcoin (BTC/USD) Daily Technical Analysis Bitcoin on the daily chart is showing early signs of stabilization after a prolonged bearish trend, but the overall market structure still requires confirmation before a sustained bullish reversal can be considered. The chart highlights a clear DOUBLE BOTTOM formation around the 58,467 support level, which is an important technical development because buyers have successfully defended this area on two separate occasions. I can also see that the recent MSS suggests a short-term shift in momentum, indicating that buyers are beginning to challenge the previous bearish structure. However, the market is still trading below the LIQ POL level and well beneath the higher FVG zone, meaning that the broader trend has not yet fully transitioned into a bullish phase. The recent bullish candles demonstrate improving buying interest after the second rejection from support, and this increases the probability of a recovery toward the nearby liquidity pool. I believe the current reaction from the support zone is encouraging because it follows a textbook accumulation pattern where liquidity below the lows has already been tested. The projected path on the chart reflects a temporary pullback toward the 58,798 area before buyers attempt another impulsive move higher. Such a retracement would be technically healthy, allowing the market to gather fresh demand before challenging the LIQ POL resistance. As long as price continues holding above the DOUBLE BOTTOM support and avoids a decisive daily close below 58,467, buyers retain the opportunity to extend the recovery. The current structure also suggests that bearish momentum has slowed compared to the aggressive decline seen earlier, giving the market room to develop a stronger base before attempting the next directional move.

Looking ahead, I will closely monitor how price behaves around the LIQ POL because this level represents the first significant obstacle for buyers. A successful breakout above that resistance would strengthen bullish momentum and open the possibility of reaching the highlighted FVG zone around the 71,000–73,000 region, where unfilled imbalance may attract price. The projection on the chart suggests that after reaching the FVG, Bitcoin could experience renewed selling pressure and retrace back toward the lower support region as traders secure profits. I think this scenario is reasonable because the FVG may act as a magnet for price while simultaneously providing an attractive area for sellers to re-enter if broader market sentiment remains cautious. On the other hand, if Bitcoin fails to defend the DOUBLE BOTTOM support and closes below 58,467 with strong bearish momentum, the bullish setup would lose credibility and the market could resume its longer-term downtrend. I prefer waiting for confirmation through stronger daily closes and another bullish BOS before becoming more confident in an extended rally. Traders should also remain attentive to macroeconomic developments, interest rate expectations, institutional fund flows, regulatory headlines, and overall risk sentiment, as these factors continue to influence Bitcoin volatility alongside technical conditions. For now, the daily chart favors a cautiously optimistic outlook while price remains above support, but the next reaction around the LIQ POL and the FVG will likely determine whether this recovery develops into a broader trend reversal or simply becomes another temporary bounce within the prevailing bearish environment.