The price of Bitcoin is currently moving in a consolidation phase near critical short-term technical levels that could determine its next major directional move. Analysts note that while the broader long-term trend has been discussed extensively, recent short-timeframe chart activity shows the market is still forming a corrective structure rather than a full bullish breakout.
Bitcoin continues to hold a crucial short-term support area between $66,200 and $67,800, a range many traders consider vital for maintaining the current recovery attempt. As long as this zone remains intact, the market can continue building an upward corrective structure, often described by technical analysts as an ABC formation, which is typically part of a broader "B-wave rally." These B-wave rallies usually represent temporary recoveries within a larger corrective cycle and are often irregular and unpredictable, leading analysts to advise flexible expectations.
For bullish momentum to strengthen, Bitcoin must first break above the $68,380 resistance level, which acts as the first structural signal of buyers regaining control. A confirmed breakout could shift focus toward the next resistance zones around $69,250 and $70,800. Clearing these areas would open the door for a stronger upward continuation.
However, the market remains in a waiting phase until these resistance levels are decisively breached, with price movements appearing relatively muted. Bitcoin has been moving within a broad descending channel since its late-2025 peak, with the upper boundary acting as dynamic resistance and the lower boundary defining the structural support zone currently being tested.
The chart highlights a major support zone near the lower channel boundary, currently around the $65,000–$67,000 region, with overhead descending resistance pressure toward the $75,000–$80,000 area. The structure reflects compression inside a broader corrective framework, with price action since February 13 showing a series of lower highs but slowed downside momentum.
Analysts warn that if Bitcoin fails to hold the current support zone, the next larger support could lie near the $55,000 to $56,000 range. A breakdown below the upper support area around $66,257 would weaken the short-term bullish scenario and signal the possibility of another corrective leg downward. The market is testing whether long-term buyers will defend this channel floor, with the next decisive move likely to emerge from this compression zone.
