After weeks of aggressive selling pressure and a sharp liquidation cascade toward the $60K region, Bitcoin is now attempting to stabilize. The recent rebound from the $62K area has pushed the price back toward a technically critical level: the channel’s mid-boundary. This level has repeatedly acted as dynamic resistance throughout the downtrend, making the current reaction highly important for the short-term direction.
On the daily timeframe, the bounce from $62K was technically clean. That zone acted as a strong demand and absorbed the aggressive selling pressure that triggered the previous flush. However, as the price approaches the channel’s mid-line, upside momentum is beginning to compress. The market is no longer impulsive — it is hesitating. Historically, this level has rejected multiple times, and until it is reclaimed on a daily closing basis, the broader structure remains corrective rather than bullish.
If Bitcoin can secure a strong daily close above this mid-boundary with follow-through buying, the structure shifts. In that case, the next logical magnet sits in the $75K–$80K supply region. That area contains prior distribution and would likely be the next test of strength. On the other hand, if price fails here and loses the $66K–$67K short-term support region, the market risks rotating back toward $62K. A breakdown below that level would reopen the path toward the lower boundary of the channel and confirm continuation of the larger downtrend.
On the 4-hour chart, the structure is more constructive. The recent breakout above the triangle formation at $67K signaled short-term bullish pressure returning to the market. That breakout shifted momentum, but price is now compressing between the broken triangle trendline below and the channel mid-line of $70K. This creates a short-term decision range.
A controlled pullback toward the broken triangle resistance-turned-support would be technically healthy and could provide the base for another push higher. If that support holds, continuation toward $70K becomes increasingly probable. However, losing that level would invalidate the breakout and suggest the move was merely a relief rally.
From a liquidity perspective, the Binance BTC/USDT liquidation heatmap shows a notable cluster of short liquidations building above $70K. This area stands out clearly as a leverage pocket. Liquidity tends to act as a magnet, especially when positioned above price during a recovery phase. If Bitcoin manages to break above the channel mid-line and build acceptance, a move into that $70K region could trigger a short squeeze, accelerating upside volatility as overleveraged shorts are forced to close.
Overall, Bitcoin is in a transitional phase. The short-term structure has improved, momentum is stabilizing, and liquidity sits overhead. Yet the daily chart still shows price trapped beneath a major dynamic resistance within a broader descending channel. Until that level is decisively reclaimed, the larger structure remains fragile.
The next daily close around the channel mid-boundary will likely determine whether this rebound evolves into a squeeze toward $70K and beyond, or whether it becomes another rejection that pulls price back toward $62K and reactivates the dominant downtrend.
The post BTC Price at a Crossroads: Rebound or Trap at the Channel Mid-Line? (Bitcoin Price Prediction) appeared first on CryptoPotato.
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