Bitcoin has managed to remain above a crucial support level in recent days, maintaining the potential for upward movement. While trading continues within a narrow range just below key resistance in the short term, the price’s ability to stay above this line still validates the ongoing bullish scenario.
Critical support levels and bullish outlook
On the four-hour Bitcoin charts, the price has been moving near the upper bands of an ascending channel since rebounding from its April low. Despite pulling back slightly from last week’s local peak, Bitcoin continues to hold above the critical $74,917 support zone. Analysts identify this level as the main invalidation point for the current bullish structure.
Man of Bitcoin, commenting on social media, wrote: “As long as Bitcoin stays above $74,917, the ‘orange roadmap’ remains valid; this mark should be tracked as the main support that would negate the current bullish outlook.”
Charts also highlight key resistance points that Bitcoin may encounter on further climbs. The first major resistance sits at $81,960. Higher up, important Fibonacci retracement levels appear at $86,582, $89,529, and $94,621. The most ambitious bullish target noted is $97,990.
However, Bitcoin has yet to break decisively above this resistance area. The price is currently trading sideways just below it, suggesting that consolidation is underway before any fresh upward move.
Short-term support holds in lower timeframes
Analysis of 15-minute charts reveals that Bitcoin has maintained its initial micro support region in the short term. A chart published by More Crypto Online shows Bitcoin holding steady at this support area after a brief pullback.
In their assessment, More Crypto Online emphasized: “Bitcoin did not fall below the first micro support zone, allowing the short-term ‘orange scenario’ to remain in play.”
Here, the immediate micro support levels stand at $80,475, $79,941, and $79,703. While Bitcoin has tested this range several times, it has not closed below it. After buyers stepped in, the price attempted to reclaim higher ground, with an initial upside target at $82,200. If momentum strengthens, $85,030 is seen as the next key objective.
The main risk in the short-term scenario occurs if Bitcoin dips below the first micro support. In that case, the next critical support zone comes into focus between $78,762 and $76,527. A decisive break to the downside could invalidate the orange roadmap and point towards a corrective phase.
Strong upside potential, caution on risks
Analysts stress that Bitcoin remains at a pivotal point, with bullish expectations gaining strength as long as the price stays above $74,917. Holding this primary support is viewed as positive for the market, while losing it would shift attention to nearby support bands for potential further declines.
In summary, Bitcoin continues to defend important support levels in both medium- and short-term views. Investors are closely tracking movements around $74,917 and the tighter $80,475-$79,703 range, watching for price recoveries and possible breakouts toward upside targets.
