Bitcoin's rebound stalled below $64,600 resistance, keeping short-term bearish pressure intact according to technical analysts. Trader Kaz projects a potential final decline into the $49,000-$59,000 support zone before a broader recovery could begin, with a highly speculative long-term target between $160,000 and $180,000. Analyst Crypto Tony noted sellers retook control after the relief rally reached the expected resistance area near $64,600. The cryptocurrency remains in a late-stage bear market testing phase, with key support at $63,800 and resistance at $64,600 defining the immediate trading range.
Kaz Projects $49,000-$59,000 Support Zone Before Potential Recovery
Trader Kaz's analysis places Bitcoin near the upper boundary of a proposed bidding zone after a prolonged decline from its previous record high. The chart identifies a potential final move into the $49,000-$59,000 support area before the broader bear-market phase could end.
Holding above approximately $49,300 would preserve the recovery scenario outlined in the analysis. The chart shows Bitcoin would need to establish a series of higher lows and reclaim major resistance levels for the projected expansion to gain credibility.
The first significant milestone identified is a return toward the previous all-time-high region near $125,000. Kaz's chart suggests Bitcoin could briefly move above that level, pull back toward $100,000, and then begin another advance.
The final upside projection places BTC inside a broad $160,000-$180,000 selling zone. Kaz noted the target depends on several unconfirmed moves occurring over the next two years and characterized it as a possible scenario rather than a forecast.
A sustained breakdown below $49,300 would weaken the bottoming thesis and expose Bitcoin to a deeper correction according to the analysis.
Crypto Tony Identifies $64,600 Resistance as Short-Term Control Point
Analyst Crypto Tony stated Bitcoin's relief rally reached the expected area before sellers pushed BTC back toward $64,300. The rebound originated from support near $63,800 after a sharp decline.
Buyers failed to reclaim the former breakdown area around $64,600, suggesting the move was corrective rather than the start of a stronger reversal according to Crypto Tony's assessment. Repeated rejection below that level could send BTC back toward $63,800.
A confirmed break beneath $63,800 support would expose the next downside region around $63,450 to $63,600 based on the chart analysis. Buyers must reclaim $64,600 and hold above it to weaken the bearish scenario, which could reopen the path toward $65,000 and recent local highs.
Bitcoin remains trapped between $63,800 support and $64,600 resistance. Losing the lower boundary would favor another decline, while a breakout above resistance would invalidate the immediate short setup according to Crypto Tony.
FAQ
What support zone does trader Kaz identify for Bitcoin?
Trader Kaz projects a potential final decline into the $49,000-$59,000 support zone before a broader recovery could begin, with holding above approximately $49,300 preserving the recovery scenario.
What is Bitcoin's current short-term trading range?
Analyst Crypto Tony identifies Bitcoin as trapped between $63,800 support and $64,600 resistance, with the rebound stalling below the upper boundary after sellers retook control near $64,600.
