- Bitcoin bounced 11% from its recent low, but daily charts still show a bearish structure despite the rally.
- Key resistance levels to watch are $88K and $92K—failing to break them could mean more downside.
- Market optimism is rising, but sustained momentum and a close above $80K are crucial for confirmation.
Bitcoin’s been climbing again—up around 11% from its recent dip to $74,450 as of Wednesday. That rally didn’t happen in a vacuum either—Wall Street’s mood flipped bullish too. The Nasdaq surged nearly 12%, S&P 500 gained 9%, and the Dow wasn’t far behind, up 8%. Big green candles all around.
Altcoins like Ethereum joined the party too, posting an 8.35% boost. Still, the entire altcoin market sits about 40% below its all-time high of $1.6 trillion. So yeah, there’s still a ways to go—roughly 70%—if we’re talking about a full recovery to those levels.
Weekly Chart Levels to Watch
Bitcoin’s getting support at the same weekly swing low from back on March 10—right around $76,560. That’s a solid area to hold for now, especially if this bounce wants to turn into something more meaningful. Ideally, a close above the 50-week EMA would really help shift the mood further.
But let’s not get ahead of ourselves.
Daily Chart Still Says: “Easy Now…”
Here’s the thing—despite the recent pump, the daily structure for Bitcoin? Still kinda bearish. Sentiment’s improving, sure. People are getting excited again. But price action is where the truth lives, and it hasn’t quite flipped bullish just yet.
We’re at a spot where, yes, the rally looks solid—but it needs follow-through. Some key zones to keep on your radar:
- $88,000 – got rejected there twice.
- $92,000 – that’s the bottom of the last consolidation range before the breakdown.
If Bitcoin can’t push past these levels—and worse, if it slips back under $80K—that might’ve just been a lower high. And you know what that means… more downside could be on deck.
Final Thoughts
Stay sharp. This rally could still turn out to be a fakeout if momentum stalls. But if buyers show up strong and we push past resistance? That’s a different story.
Keep a cool head, watch those key levels, and don’t toss risk management out the window just ’cause the charts look green for a minute. Bullish setups can turn fast—so patience is your best friend here.
