Usman Salis
⬤ Bitcoin continues to consolidate after recent moves, with price holding above critical micro support levels that technicians say could preserve the current corrective structure. BTC may be forming the B-wave within white wave 2 of its short-term Elliott structure. This setup places the micro support zone between $66,190 and $66,946 as a pivotal area to preserve while price tests the first resistance zone near $68,304 on the intraday chart.
⬤ The chart shows Bitcoin attempting to advance toward resistance following a rebound from the lower support boundary. Price action recently moved above the descending trendline and has oscillated before approaching the $68,304 level, which represents the 50 percent retracement of the red resistance cluster. Higher resistance levels at the 61.80 percent and 78.60 percent retracements near $68,945 and $69,867 are visible above current price, indicating layered upside hurdles BTC may encounter if buyers can extend beyond short-term resistance.
⬤ Market coverage also highlights Bitcoin's range context where consolidation inside defined levels often precedes directional moves. BTC Holds $60K Support as Traders Eye $78K Resistance showed how BTC has respected key horizontal support zones while consolidating near major price levels. Another piece, BTC Price Analysis: Bull Flag Holds as $74K Resistance Caps Upside, examined how pattern formations and resistance areas have shaped price behavior in recent weeks.
⬤ The way Bitcoin responds to the micro support range and short-term resistance will shape the next leg of its price action. Maintaining support above $66,190 helps preserve the corrective B-wave scenario, while a breakout above the first resistance at $68,304 could signal renewed upside momentum. Conversely, a breach below key support might indicate a deeper corrective phase, reinforcing the importance of these technical thresholds in defining near-term Bitcoin trajectory.
Usman Salis
