What is the likely short-term scenario for BTC?

Bitcoin is still stuck in a broader bearish structure, but the latest breakout shows that buyers are trying to keep the recent recovery above the key $60,000 area alive. However, the larger trend remains volatile as BTC is still trading at higher timeframes than key resistance levels.

Bitcoin Price Analysis: Daily Chart

On the daily chart, BTC remains below both the 100-day and 200-day moving averages, maintaining a broader bearish bias. The price is also trading inside a descending channel, which indicates that the market has not yet confirmed a correct trend reversal.

The key support zone remains around $60,000 to $61,000, which previously triggered a reaction in February. On the left, the first major resistance is around $75,000 to $80,000. As long as BTC remains below that zone, rallies are likely to be considered corrective rather than impulsive.

BTC/USDT 4-hour chart

For 4 hours, Bitcoin continues to move within a large flag pattern, indicating that the recent advance is still a recovery structure. Assets are currently hovering around $69,000 after once again failing to sustain a break from the upper boundary of the pattern near the $73,000 area.

Momentum is now neutral and the RSI is recovering from weaker levels, but still not showing a decisive breakout. If the buyers protect the area of ​​64 to 65 thousand dollars, which coincides with the bottom line of the flag, another push to the resistance of the channel remains possible. However, a break from the lower boundary could push BTC back to the $60,000 area and potentially lower in the coming weeks.

Chain analysis

From the perspective of the chain, the 30-day exponential moving average of the exchange’s whale ratio has risen sharply, which usually indicates that large holders have become more active in sending coins to exchanges recently. This is a warning sign, as a high influx of whales often increases the likelihood of selling pressure.

So, while the price is trying to stabilize in the short term, the fundamentals in the chain remain cautious. In other words, the chart structure may still allow for a recovery, but the uptick in whale activity suggests that upside may be limited unless the metric cools off again.