A real recovery in Bitcoin is not about one good week, but you probably know that. The original crypto had hit an important low near $60,000 in early February, then climbed back and tested the $74,500 area this week, which has naturally put it near the level many traders are watching most closely:- $75,000.
Bitcoin’s chart has started to look like a possible cup-and-handle, which sounds encouraging, except we’ve already seen a similar setup fail.
A very close version formed from November 2025 to mid-January 2026, though that pattern actually looked cleaner than this one, and lasted about two days. Then price turned lower and kept sliding for three straight weeks until it reached the latest low.
Bitcoin is remaining under pressure thanks to many lower highs
Observe the longer chart below, and you’ll see that Bitcoin was rejected from the $120,000-plus area. After that came a chain of lower highs, then a hard breakdown through the $90,000 to $85,000 zone.
Source: TradingView.Price is now below $70,000. Put those pieces together and the higher-timeframe structure still leans bearish to neutral-bearish.
On the weekly pattern, Bitcoin printed a lower high, then another lower high, then a lower low. It also failed more than once to reclaim the zones where the earlier breakdown started.
The most important break came when Bitcoin lost support in the high-$80,000s to low-$90,000s. Once that floor gave way, selling sped up and pushed price down into the $70,000 area.
From here, traders are looking at two possible outcomes:- 1, Bitcoin is trying to build a base, or 2, this is just a pause before another drop. Right now, the chart leans more toward a base attempt, but it does not show a confirmed reversal yet.
Bitcoin’s 50-week moving average sits at 59,088, while the 200-week moving average is at 98,359, which means Bitcoin is above the former but very much below the latter, which Cryptopolitan believes will keep macro pressure tight in place.
As long as price stays below roughly $98,400, bulls do not have control of the higher timeframe. So the market is stuck in the middle, with support underneath and major resistance overhead.
Bitcoin must clear $75,000 for its recovery to hold even a little bit
The first nearby resistance zone is $75,000 to $76,000. This is where the current weekly candle topped out and also the area tied to the earlier bearish neckline.
There is no hope for the bulls unless Bitcoin breaks this spot. Above it sits a larger resistance band from $80,000 to $90,000, with $88,000 to $92,000 standing out the most. That zone used to act as support, now it is acting like resistance.
Higher up, the biggest barrier is $98,000 to $100,000, which lines up with the 200-week MA.
At press time, Bitcoin’s open interest stood at $106.48 billion, down 6.14%, while liquidations were $470.30 million, up 189.69%.
Bitcoin dominance is 58.22%, down 0.41%, and its exchange balance fell by 3.59K to 2.47 million. The Fear & Greed Index was 24, which sat in fear territory, according to data from CoinGlass.
Long-short data meanwhile showed traders leaning long. On Binance BTC/USDT, top trader positions were at 1.1, up 8.42%. Top trader accounts were at 1.5, up 52.90%. On OKX BTC, long-short accounts stood at 1.44, up 48.45%.
Binance long-short accounts were 1.46, up 59.45%. At the same time, Bitcoin has been rallying while the S&P 500 has stalled over the past few weeks, and the Bitcoin versus SPX relative line has bounced with it.
Source: https://www.cryptopolitan.com/bitcoins-rally-to-count-as-a-full-recovery/
