Bitcoin Jumps 4% but Faces Strong Resistance Ahead

Bitcoin climbed roughly 4% in the past 24 hours, attempting a recovery after a period of sustained selling pressure. While the bounce brought some short-term optimism, it does not yet confirm a full trend reversal. The broader structure still needs stronger confirmation before sentiment can truly shift bullish.

Despite the recent move higher, Bitcoin continues trading below key short and mid-term moving averages. This signals that sellers still hold overall control. The positive sign is that momentum to the downside appears to be slowing, which can sometimes precede consolidation or a potential reversal attempt.

Momentum indicators are beginning to show early improvement. The Relative Strength Index has recovered from oversold levels, suggesting that extreme selling conditions have eased. At the same time, weakening bearish momentum on the MACD points to a slowdown in downward pressure. These signals do not guarantee upside, but they often appear during transitional phases.

Bitcoin is now approaching an important resistance area around the mid-$72,000 range. A strong break above this zone could open the door toward higher levels near the mid-$80,000 area.

On the downside, support near the upper-$67,000 level is critical. If that area fails, the next major support sits closer to the low-$63,000 region. These zones will likely determine the short-term direction.

Order book activity reveals a clear standoff. Buyers are positioning themselves below current prices to defend support, while sellers have built significant resistance overhead. This creates a near-term tug of war, with neither side fully in control.

For bulls to regain momentum, Bitcoin must hold support and push convincingly above resistance. Without that breakout, the bounce risks turning into another lower high within the broader downtrend.

If support breaks, renewed downside pressure could quickly follow.

Bitcoin is at a technical crossroads. The recent bounce shows that selling intensity has cooled, but confirmation is still missing. The next decisive move around key levels will likely set the tone for the coming weeks.