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Bitcoin continues to trade within a descending channel on the Daily timeframe after being rejected at the $74,000 resistance zone. The price is currently fluctuating around $66,000–$67,000 and remains below both the EMA50 and EMA100, indicating that bearish momentum still dominates. The $60,000–$61,000 region remains a key support zone; a breakdown could push the price further toward the $50,000–$51,000 area.
If the support zone around $60,000 holds, the market may continue to consolidate before building momentum for a potential recovery. Conversely, a break below this support could open the door to deeper downside risks toward the $50,000 area.
On the daily timeframe, BTCUSD (Bitcoin) continues to trade within a descending price channel that has been in place since the peak near $126,000.
After repeatedly facing selling pressure below the psychological level around $100,000, the price experienced a sharp decline toward a low near $60,000 before a technical rebound emerged. However, this recovery remains relatively limited as BTCUSD has not yet managed to reclaim key resistance zones.
Currently, the price is fluctuating around $66,000–$67,000, still trading below both the EMA50 and EMA100 on the Daily chart, indicating that bearish momentum continues to dominate in the medium term. The fact that price has been repeatedly rejected near these moving averages further supports the view that the recent upward moves are mainly technical rebounds rather than a genuine trend reversal.
From a structural perspective, after being rejected near $74,000, the $73,000–$74,000 zone now acts as an important resistance area, which also aligns closely with the EMA50. Only if Bitcoin can close firmly above this zone would the short-term bearish structure begin to show signs of weakening.
On the downside, the $60,000–$61,000 area remains a key support zone for the market. Holding above this region could allow Bitcoin to maintain a consolidation phase and potentially form the foundation for a medium-term recovery. However, if this support zone is broken, selling pressure could intensify and push the price further down toward the $50,000–$51,000 region, which is considered the next demand zone on the Daily timeframe.
9.3.2026
Bitcoin (BTCUSD)
(Chart powered by TradingView. Charts are for educational and illustrative purposes only and may differ from live trading prices on our platform.)
Disclaimer: The chart reflects the analyst's opinion and does not constitute investment advice. Past performance is no guarantee of future returns. Seek independent advice before making decisions.
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Linh Tran
Market Analyst
Linh Tran is a member of the Market Analysis team at XS.com, holding a Master’s degree and with experience in the financial markets since 2018. She focuses on macroeconomic analysis, central bank policies, and multi-asset markets including forex, commodities, equities, and cryptocurrencies, delivering structured and data-driven market insights.
This written/visual material is comprised of personal opinions and ideas and may not reflect those of the Company. The content should not be construed as containing any type of investment advice and/or a solicitation for any transactions. It does not imply an obligation to purchase investment services, nor does it guarantee or predict future performance. XS, its affiliates, agents, directors, officers or employees do not guarantee the accuracy, validity, timeliness or completeness of any information or data made available and assume no liability for any loss arising from any investment based on the same. Our platform may not offer all the products or services mentioned.
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