After the recovery phase from the 60,000 USD zone, Bitcoin is gradually returning to the 70k – 71k area. However, from a technical perspective, the 74,000 USD zone is truly the area that determines the market's next trend.
If BTC breaks through this zone with large volume, it is highly likely that the market will enter a new uptrend of the cycle. Conversely, if the price is strongly rejected here, the market may enter a deeper corrective phase.
Below are the important technical factors.
1. 74K is the nearest peak of the market
On the recent price structure, BTC has formed a sequence:
60k → 74k → 66k → 71k
The 74k zone is the nearest swing high.
If BTC breaks through this area, the market will form:
Higher High
Higher Low
This is a typical structure of a continuing uptrend.
2. This is the area where large selling pressure previously occurred
Observe at the 74k area, the market previously showed:
many shooting star candles
large trading volume
strong selling force from whales.
This indicates that this area was once a short-term distribution zone.
When BTC returns to this price range, the market will check if:
whether the selling force is still strong.
3. The psychological resistance of the market
74k is also very close to the recent cycle's peak.
The areas near ATH are often where:
many investors taking profits
whales testing liquidity
the market shows strong volatility.
Therefore, BTC's reaction in this area will determine the next trend.
4. Scenario if BTC breaks 74K
If BTC breaks through 74k with large volume, the market structure will clearly shift to bullish.
The next targets could be:
80k
85k
further away is the new ATH of the cycle
This model is very similar to the phase when BTC broke 20k in 2020 before entering a strong uptrend.
5. Scenario if BTC is rejected at 74K
If BTC hits 74k but cannot break through, the market may form a double top pattern.
In case BTC subsequently breaks below the 66k zone, it is highly likely that the market will enter a medium-term downtrend.
The important support zones at that time will be:
64k
60k
56k
48k
Conclusion
The 74,000 USD zone is currently the most important area for Bitcoin in the short and medium term.
Three main scenarios can occur:
• Break 74k with large volume → start a new uptrend
• Rejected but stays above 66k → sideways accumulation
• Rejected and breaks 66k → deeper correction
Personally, I believe that 74k is the decisive zone of the current market structure, and BTC's reaction at this area will give us a clear answer about the next trend.
The market is always changing and full of surprises. Always reward those who are patient. Keep it up, everyone.
BTCVN4 does not promise to help you achieve 100% profit but ensures to always accompany you to minimize risks and optimize capital management.
Thank you, everyone.
BTCVN4
