Bitcoin has managed to hold above a critical support zone, strengthening expectations of an upward move in the short term. While the price still remains below a major resistance level, technical indicators and renewed buying appetite point to a sustained bullish sentiment across the market.
The 61 thousand dollar level stands out
Bitcoin is currently trading at 62,591 dollars, with a 24 hour trading volume of 30.97 billion dollars and a market capitalization of approximately 1.26 trillion dollars. After a period of weakness, Bitcoin has bounced back by 1.16 percent over the past 24 hours, signaling a new phase of recovery.
Crypto analyst Michaël van de Poppe, in his July 9, 2026 assessment, maintains that as long as Bitcoin holds above 61,000 dollars, the outlook remains positive. In his view, holding this level could reduce the risk of a deeper pullback and open up a pathway towards the 67,000 to 70,000 dollar range in the coming weeks.
Michaël van de Poppe highlights that the market structure continues to lean upward as long as Bitcoin stays above 61,000 dollars, making the 67,000 to 70,000 dollar range a renewed target.
The 61,000 dollar region has emerged as a key zone where buyers have repeatedly returned during recent corrections. Preserving this level is not only crucial for Bitcoin, but also a pivotal factor in maintaining confidence across the broader cryptocurrency market.
Technical indicators show signs of recovery
On the technical side, improving signals have caught the market’s attention. Bitcoin is trading above both the lower Bollinger Band at 58,303 dollars and the middle band at 61,796 dollars. However, since the upper band at 65,289 dollars has not been breached, this area must be watched to confirm further upside momentum.
Mini glossary: Bollinger Bands are a technical indicator that shows volatility bands around an asset’s moving average for a set period. MACD monitors the relationship between short and long term moving averages to help determine the strength or weakness of momentum.
The MACD indicator also points to increasing bullish momentum. The MACD line is currently at minus 641.78, while the signal line has moved above at minus 1,212.62. The histogram remains in positive territory at 570.83, confirming continued buying pressure.
If Bitcoin can surpass the 65,000 dollar resistance, the scenario projecting a move towards the 67,000 to 70,000 dollar range may gain further traction.
Resistance and pullback scenarios
Bitcoin’s ability to remain robust could send ripples of support through the entire crypto market. As the flagship asset, BTC’s defense of its support level often bolsters investor confidence and accelerates capital inflows into altcoins.
Institutional interest continues to play a significant role in shaping price trends. The sustained attention from financial firms and activity in Bitcoin ETF products have helped maintain demand even during downward movements.
Looking ahead, whether the 65,000 dollar resistance can be overcome will be the key question. A decisive move above this level could bring the 67,000 to 70,000 dollar range into clearer focus. Conversely, a loss of support at 61,000 dollars may reignite selling pressure, potentially resulting in another test of the 58,000 dollar level.
