Bitcoin Eyes $75K Test After Weekend Bounce; $72K–$75K Pivot in Focus
Bitcoin steadied above $70,500 after a sharp selloff and quick weekend rebound, with traders and chartists highlighting $72,000–$75,000 as the critical zone that will likely determine the next market direction. On Binance two-day charts, BTC traded around $70,572 after rising roughly 2.5% from an open near $68,854 to a high near $70,983, but remained below resistance near $72,825. Trader TedPillows noted prior support/demand zones at ~$65,944, $60,421 and $55,123 and flagged $72,000 as the main level — a break could shift targets toward $76K–$80K; $68,800 was also noted as a CME gap level. Analyst Ali Charts compared Bitcoin’s recent drop-and-bounce to the S&P 500’s recovery pattern, saying reclaiming $75,000 as support would “significantly increase the odds” of a sustained advance. Key trading levels: immediate support ~$68,800 (CME gap), demand zones ~$65,944 and ~$60,421; resistance/pivot region $72K–$75K and overhead targets $76K–$80K. Primary keyword: Bitcoin price; secondary keywords: BTC resistance, CME gap, support zones, weekend rebound.
Bullish
The article centers on a weekend rebound that restored Bitcoin above $70.5K and identifies $72K–$75K as a decisive pivot. This setup is bullish because (1) reclaiming the $75K area as support would increase the probability of a sustained upside run toward $76K–$80K, per analysts; (2) the rebound occurred after price tested and bounced from multiple demand zones (~$65.9K, $60.4K), indicating underlying buyer interest; (3) a short-term technical signal: moving through the immediate resistance ($72K–$72.8K) would remove a key overhead cap and invite momentum buying. Historical parallels include prior post-dip recoveries where reclaiming a major pivot led to multi-week rallies (e.g., past BTC recoveries off major support zones and S&P 500-style re-accelerations). Risks that temper the bullish view: failure to clear $72K–$75K would likely return BTC to lower demand zones and keep price rangebound or bearish; CME gaps and macro liquidity events can draw price back to fill gaps. Trading implications: short-term traders can look for a confirmed breakout above $72K–$75K for long entries with targets toward $76K–$80K and stops below reclaimed support; conservative traders should wait for a retest of $75K as support. Overall, probability-weighted view favors upside continuation if key resistance is reclaimed, but immediate confirmation is necessary to validate the bullish case.