Bitcoin has been testing a key support zone in recent days, hovering in a range between $73,000 and $74,500. According to the chart published by social media user Rekt Capital, known for its posts on technical analysis in the cryptocurrency market, a test of Bitcoin at the $ 73,000 level has come to the fore in the weekly chart. Here, the 21-week exponential moving average — which has worked as resistance in recent weeks — prevented the price from breaking above.
Double bottom and critical moving average emphasis on weekly chart
The analysis shows that Bitcoin, after recovering from March lows, is fluctuating in the $65,700 and $72,800 support zones, shown in blue. The price rebounded to $72,800 after bouncing up from the $65,700 band last week, but it still remains below the 21-week moving average.
From a technical perspective, this move highlights the possibility of a possible “post-breakout pullback”. According to the analysis, it seems possible that Bitcoin could retest the breakout area at $73,000 unless the price clearly breaks out of the current average level. During this test, it is closely monitored whether the area that previously worked as resistance will turn into support.
Rekt Capital pointed out that the weekly close could confirm that the moving average is working as resistance, and in this scenario, the price may face a final support test before an upward break.
The analysis also states that the recent bounce has increased short-term momentum but has not yet provided a permanent trend change on high-time charts. It is underlined that the market is still in the recovery phase.
On the other hand, whether $65,700 will work as support again will be decisive for the continuation of the upward breakout. If this level cannot be maintained, Bitcoin may face the risk of fluctuating within the broadband again.
Relative recovery and new critical support on the daily chart: $74,500
Super฿ro, another social media user focusing on the daily chart, mentions a significant support formation in Bitcoin price near $74,500. At this point, the 2025 low, the 0.382 Fibonacci retracement level, and the 100-day simple moving average also meet in the same area. Technical indicators point out that the resistance here has started to become support.
The chart also shows that the price entered a rising channel after the sudden drop in early February. Recently, the horizontal resistance line around $74,502 was breached and the price managed to hold on in this region. This development points to processes in which old resistances are frequently tested whether they will be strong support during the recovery phases.
Super฿ro emphasized that the low-volume sales wave experienced last weekend recovered in a short time with the strong purchases that followed, and the buyers were successful in regaining control.
However, Bitcoin is still trading below the upper resistance zones at $78,982 and $83,461; The 200-day moving average also continues to remain above the price. This indicates that one should be cautious about whether the support at $ 74,500 will be permanent.
In the overall picture, Bitcoin approaching important technical levels on both the weekly and daily charts will be decisive in the short-term direction of the market. Despite the recent rise, the market still remains indecisive and it is closely monitored whether a new momentum will take shape with critical zone tests.
