Bitcoin is showing signs of stability after a strong bearish phase that pushed prices below major support levels. The market is now holding above the important $60.5K demand zone, where buyers have started to defend the price.
Although Bitcoin remains under a descending resistance trendline, sellers are no longer dominating the market as aggressively as before. Recent price action suggests that selling pressure is slowing down and the market is attempting to build a base.
If BTC continues to stay above the $60.5K support area, the probability of a short-term recovery increases. The next major target for bulls could be the $64K resistance zone, where strong selling interest may appear again.
My analysis: Bitcoin is currently at a critical decision point. Holding above support could trigger a move toward $64K, while losing this zone may open the door for another wave of downside pressure. Traders should closely watch volume and price behavior around support before making decisions.
The market is still in a recovery phase, but buyers are gradually gaining confidence. The coming sessions may determine whether BTC starts a stronger rebound or remains trapped inside the current range.