While Bitcoin gives the appearance of a possible double bottom on higher time frames, liquidity accumulation in the range of $ 63,000 to $ 63,200 in the short term indicates that the price may have difficulty in this region. Analysts state that if the stop orders above this level cannot be maintained after being executed, a new withdrawal may be on the agenda.
The possibility of a double bottom came to the fore on the three-day chart
The structure observed on the three-day chart shows that Bitcoin is approaching the area that previously worked as support during the year. The formation of a second bottom in the same support area indicates that the weakness in sellers may gain strength if buyers maintain this level.
In this scenario, the most critical resistance zone is at $ 82,000. A rebound of the price above this area could strengthen the double bottom view and produce a stronger technical signal that Bitcoin is starting to move away from its current bearish structure.
An analyst evaluates that if Bitcoin overcomes the $ 82,000 resistance, the double bottom structure may gain confirmation and the movement above $ 100,000 in the last quarter of the year may create a strong buying appetite in the market.
In the upside scenario, the next prominent target on the chart is shown as the $ 108,000 level. In order to reach this region, the price will first have to overcome the neckline resistance and then maintain its momentum.
The RSI indicator, known as the relative strength index, also attracts attention. If the indicator maintains a higher structure while the price is moving close to the bottom zone, it indicates a possible positive divergence. However, it is emphasized that this outlook alone is not sufficient and must be confirmed by price movement.
Mini dictionary: A double bottom is a technical formation that indicates the possibility of the price turning up after making two similar bottoms. RSI is an indicator that measures the speed and momentum of the price and is used to monitor overbought or oversold areas.
Watching the $63,200 region in the short term
In the shorter-term outlook, Bitcoin appears to be moving towards upward liquidity clusters. It is stated that short selling positions have come under pressure in this process, but the rise is not yet considered a clear break.
Analyst Kaz predicts that there are many stop orders above $63,200 and that the price may first clear this area and then reverse its direction downwards again.
Kaz predicts that the range between $63,000 and $63,200 is the decisive region in the short term, and that Bitcoin may retreat below $60,000 after liquidity above these levels is received.
In this context, the range between 63,000 and 63,200 dollars stands out as the main area to be monitored in the short term. Price breaking into this area could trigger additional stop orders and create a final upward sweep before sellers step in again.
| Area | Meaning |
|---|---|
| $63,000 to $63,200 | Short-term liquidity and stop concentration |
| Under $60,000 | Area to be monitored for possible withdrawal |
| $82,000 | Main resistance in double bottom structure |
| $108,000 | Upside technical target |
It is also considered that weekend transactions may increase volatility. For this reason, it is stated that the movement above $63,200 is not considered a bullish confirmation on its own, and if the price cannot hold above this level, the recovery may turn into a new correction in a short time.
