Bitcoin finds itself once again at a key crossroads, testing pivotal support zones on both the weekly and daily charts. As the price hovers precariously around these critical levels, investors are watching closely to determine the short-term direction for the world’s largest cryptocurrency. On the weekly timeframe, Bitcoin is grappling with the Hull Moving Average, while the daily chart reveals an increasingly important band of support between 73,000 and 71,300 dollars.
Critical weekly retest in focus
According to Super฿ro, an analyst sharing insights on X, Bitcoin is currently retesting the weekly Hull Moving Average after its latest breakout attempt. The analyst draws comparisons to similar weekly breakouts from Bitcoin’s 2014, 2018, and 2022 price cycles to provide context for the latest movements.
For reference, the Hull Moving Average is a technical indicator designed to react more quickly to price changes than conventional moving averages. Traders use it to spot trend reversals earlier, though it is not considered a definitive signal on its own.
In the chart shared by Super฿ro, four distinct weekly Bitcoin cycles are highlighted. The regions where price broke above the Hull Moving Average, depicted in yellow, are marked to show both the breakout and subsequent retest phases. Past examples indicate that after price surges, Bitcoin often returns to test these same areas.
Super฿ro noted that the anticipated retest—which he had pointed out two weeks ago—is now playing out, and that similar, seemingly weak retests in the past have often preceded more favorable long-term trends for Bitcoin.
However, it’s emphasized that the current situation remains unconfirmed. If Bitcoin manages to hold above the Hull Moving Average and regains momentum in this region, the historical comparisons may become even more relevant. Conversely, a decisive drop below this average could weaken the bullish outlook implied by previous cycles.
Daily chart spotlights the 71,300 to 73,000 dollar band
Ali Charts, another prominent analyst, points to the main cluster of daily support situated between 73,000 and 71,300 dollars. If Bitcoin sees a strong rebound from this range, Ali suggests a potential move back toward 78,000 dollars. Should this cluster fail, however, the 65,000 dollar area may soon come into play.
Key daily support levels are lined up at 74,020, 72,630, and 71,305 dollars—a tight grouping that underlines the importance of this region for short-term traders.
| Zone | Level | Significance |
|---|---|---|
| Primary support cluster | 74,020 72,630 71,305 dollars | Key region to defend in the short-term |
| Upside target | 77,887 approximately 78,000 dollars | First recovery area if a strong bounce emerges |
| Lower supports | 68,589 and 65,230 dollars | Possible retracement levels below 71,305 dollars |
Ali argues that as long as buyers maintain control over the 73,000 to 71,300 dollar range, Bitcoin could attempt a rebound toward 77,887 dollars. Beyond this, resistance lies at 82,811 and 89,071 dollars, though momentum would need to build through lower resistance levels first.
Ali Charts highlighted that a strong reaction from the 73,000 to 71,300 dollar zone could lift Bitcoin back toward the 78,000 dollar mark, while losing this band could bring the 65,000 dollar level sharply into focus.
If the price closes firmly below 71,305 dollars, it could undermine the current support structure. In such a scenario, traders would first eye 68,589 dollars and then 65,230 dollars as immediate downside targets. While there’s an even lower threshold marked at 59,789 dollars, this level would only become relevant if the crucial 65,000 dollar support is decisively lost.
