Analyst Reveals Bitcoin Price Faces Golden Pocket Test Before Bullish Turn

Key Insights:

• Bitcoin price bounced from the $60K support zone, but analysts still want confirmation near $61.3K.
• BTC reclaimed the 10-day and 20-day averages, while the 50-day MA near $65.9K remains key resistance.
• Upside gaps near $67K-$68.5K and $71K-$73K may come into focus if Bitcoin holds support.

Bitcoin price rebounded after buyers defended the recent support zone, but the recovery remained unconfirmed. BTC moved above short-term averages while approaching Fibonacci resistance tied to the latest downtrend.

The next test sits around the 50-day moving average. A sustained break above that level would strengthen the rebound case and expose higher chart targets.

Bitcoin Price Prediction Hinges on Support Retest

Bitcoin rebounded after entering the $60,500-$61,000 support range. The cited chart showed a long lower wick, indicating buying interest near the recent low.

Market analyst Max Trades said BTC needed to revisit the wick area near $61,300 and establish firmer support. A successful retest would strengthen the case for a higher low.

BTCUSD Chart | Source: X

The wider $60,500-$61,300 region, therefore, remains the main short-term base. A breakdown below that area would weaken the recovery structure and return attention to lower support.

However, holding the zone would give buyers another opportunity to challenge nearby resistance. Bitcoin traded near $62,000 on July 9 as the market assessed the rebound.

Golden Pocket Test Keeps Bitcoin Bulls Waiting

Bitcoin price is now testing the Golden Pocket of the current downtrend. This area sits near the 0.618 to 0.65 Fibonacci retracement zone. Traders often treat this range as a resistance area during bearish recoveries. For that reason, BTC needs more than a brief move into the zone.

A strong breakout would require price to clear the Golden Pocket and hold above it. Bitcoin must also break market structure by moving above the recent swing high. That step would show that buyers have gained control of the short-term trend. Without it, the move may become another lower high.

BTC crypto holding support would keep the rebound alive. Losing the base would weaken the move and bring pressure back. This leaves BTC in a narrow decision zone between support and resistance.

Bullish Cross Puts Focus on the 50-Day Moving Average

Bitcoin has also formed a short-term bullish cross on the daily chart. BTC moved above the 10-day and 20-day moving averages after the late-June low. That signal shows improving near-term momentum. Still, it does not confirm a full trend change on its own.

The 50-day moving average remains the next major level. It sits near $65,928 and now acts as an important resistance point. A daily close above that level would show better follow-through from buyers. It could also open the path toward higher liquidity zones.

The chart shows fair value gaps above the current price. The first area sits around $67,000 to $68,500. Other gaps sit near $71,000 to $73,000 and $74,000 to $76,000. These zones may attract price if Bitcoin clears nearby resistance.

BTCUSD 1-Day Chart | Source: X

Leverage data also shows liquidity clusters above the current price. These areas can pull Bitcoin price higher when momentum improves. However, BTC needs to defend $60,500 to $61,300, clear the Golden Pocket, and challenge the 50-day average. A failure at any step would slow the recovery.

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