#BuyTheDipOrWaitNow? ##BitdeerLiquidates943.1BTCReserves,

Bitcoin is currently trading around the $68,000 zone, showing a strong recovery after recent volatility. The market has seen renewed buying interest following a short-term correction, indicating that buyers are still active at key demand levels. Overall sentiment remains cautious and optimistic, with traders closely monitoring whether Bitcoin can maintain strength above the nearest resistance zone or revert to consolidation.
RSI Analysis (Relative Strength Index)
The RSI is in the neutral range, not too overbought or oversold. This suggests that Bitcoin still has room to move in either direction without immediate exhaustion. Moving above the upper neutral band would indicate increasing bullish momentum, while a decline below the mid-level support could signal short-term weakness.
MACD Momentum Insights
The MACD indicator shows flat momentum, reflecting market uncertainty. Although there is no strong bearish crossover, bullish momentum has not been fully confirmed either. This aligns with a market that is consolidating after a rebound and waiting for a catalyst to determine the next trend.
Moving Averages Structure
Bitcoin's price is trading near the short-term moving average, indicating short-term strength. However, the long-term moving average remains a critical zone above. Sustaining above the short-term average supports the continuation of the bullish trend, while rejection near the long-term average could keep the price range-bound.
Support Zone Breakdown
The main support area is clearly defined:
Primary Support: Around the $66,000 level, where buyers have repeatedly entered
Secondary Support: Near the $63,000–$60,000 zone, representing a stronger demand cluster in case of a deeper correction
As long as the price remains above the primary support, the market structure remains intact.
Resistance Levels to Watch
Bitcoin faces strong resistance near:
Immediate Resistance: Around the $69,500–$70,000 range
Major Resistance: Above $72,000, requiring strong volume and momentum to break through
A clean breakout above resistance could pave the way for trend continuation, while repeated rejections may reinforce sideways movement.
Market Structure & Trend Context
The current price structure shows Bitcoin attempting to build a higher base after the recent correction. This supports continuation if volume backs the move, but failure to decisively reclaim resistance could lead to prolonged consolidation.
Fibonacci Zones & Price Reaction
Fibonacci retracement levels highlight key reaction zones where prices historically pause or reverse. These levels continue to act as technical magnets, influencing short-term trader behavior and reinforcing support and resistance clusters.
Short-Term Outlook Schemes
Bullish Scenario:
Sustained movement above the $70,000 region could accelerate upward momentum, targeting higher resistance zones and strengthening bullish sentiment.
Neutral Scenario:
Prices may oscillate between established support and resistance as the market digests recent moves.
Bearish Scenario:
Failure below the main support zone could trigger a deeper retracement toward lower demand areas, especially if selling pressure increases.
Miner Activity Correlation
The liquidation events highlighted by #BitdeerLiquidates943.1BTCReserves, relate more to liquidity management than panic selling. From a technical perspective, Bitcoin's price behavior remains driven more by market structure, momentum indicators, and demand zones than by individual miner treasury decisions.
Final Technical Summary
Momentum indicators remain mixed but stable
Support levels hold, maintaining market structure
Resistance remains a key challenge for bullish continuation
Bitcoin is in a decision-making phase, awaiting confirmation
Conclusion
Although attention is focused on #BitdeerLiquidates943.1BTCReserves , Bitcoin's technical outlook is primarily determined by price action and indicators rather than miner balance sheet adjustments. The market is currently balanced, with both bullish and bearish scenarios possible depending on how prices react around critical technical levels.