Bitcoin price has faced a clear rejection of near $69,000 resistance, strengthening range-bound conditions and weakening short-term momentum. Loss of key volume support now increases the chances of a move towards $60,000.
Summary
- Rejection at $72,000 confirms resistance
- Loss of control point indicates bearish momentum
- The low in the $60,000 range will be the next major downside target
Bitcoin (BTC) price action remains limited to a wider trading range, with recent attempts to test the upper limit failing to gain traction. The rejection near the high value zone indicates that buyers do not have the strength to sustain a breakout, causing short-term bias to shift back down. As structural weakness increases, traders are increasingly focused on whether range support can hold.
Bitcoin price main technical points
- Great resistance: $72,000 corresponds to the high value area and the highest range.
- Structural Weakness: Price has lost the Point of Control and mid support.
- Downside risk: Breakdown below the range reveals $60,000.
Bitcoin recently approached the upper limit of its established trading range, with resistance near $72,000 acting as a value area high. However, the rally in this region lacked conviction. Price barely tested the full extent of resistance before sellers stepped in, confirming that overhead supply remains dominant. Such superficial rejections often indicate underlying weakness rather than healthy consolidation.
The technical landscape deteriorated further following the loss of the Point of Control (POC), the level that represents the highest trading volume within the current range. The POC generally acts as a balance between buyers and sellers. The loss of this level on a closing basis indicates that the market is accepting lower prices, reinforcing the bearish short-term structure.
Additionally, Bitcoin is now struggling to hold the midpoint of the range, with the four-hour candle close confirming weakness below this zone. Sustained trading below the mid-range often foreshadows deeper rotations towards range lows.
This behavior reflects classic bearish characteristics, where failed breakouts are followed by distribution and downward continuation, even as growing institutional demand and ETF inflows continue to support Citigroup’s planned 2026 launch of crypto custody focused on Bitcoin integration.
From a market structure perspective, Bitcoin continues to push lower highs within the range environment. Without regaining lost volume support, upside momentum will remain limited. Markets that fail to break above resistance often look for liquidity at lower boundaries, especially when volume does not confirm bullish continuation.
The next critical level is near USD 60,000, which represents the low range and the main support zone. A move toward this area would complete another full rotation within the broader consolidation structure. Although environmental conditions may persist for extended periods, repeated rejections in the face of resistance increase the likelihood of an eventual collapse as demand weakens.
A decisive loss of the $60,000 support would mark a significant structural shift, potentially accelerating bearish momentum and revealing deeper support levels. Until the bulls regain the POC and restore adoption above the mid-range, Bitcoin remains vulnerable to further downtrend exploration.
The volume dynamics also reinforce caution. The recent rally attempt lacked growing participation, and current price behavior reflects defensive positioning rather than accumulation. Without renewed buying pressure, a continuation toward lower support remains a more likely scenario.
What to expect in the upcoming price action
Bitcoin’s short-term outlook remains bearish while trading below the mid and point-of-control range. Continued weakness increases the likelihood of a move towards support at $60,000, where the next major structural reaction is expected to occur.
#Bitcoin #Price #Rejects #Range #High #Threatens #Fall