Following the recent selloff, Bitcoin traders have identified a critical decision-making zone, with experts divided on whether the market will experience further declines or initiate a recovery. Two distinct chart analyses highlighted crucial price points that could influence Bitcoin’s next trajectory, including a pivotal level near $68,000 and the possibility of retesting $80,000.
Bitcoin’s Current Decline Mirrors 2022 Bear Market Trends
A weekly BTCUSDT chart shared by X user Aralez suggests that Bitcoin might still encounter additional downward pressure before establishing a solid bottom. Aralez pointed out that the market appears to be replicating a bear pattern similar to 2022 and cautioned traders against rushing into accumulation phases since “the bottom isn’t confirmed yet.”
The chart highlights an important resistance level around $68,000 with an orange horizontal line. A green circle accompanied by the label “WE’RE HERE” marks this zone following sharp selling pressure and an attempted rebound. Additionally, there is another orange line positioned near the mid-$50,000 range representing broader support beneath current prices.
Below this lower support band is labeled as “Cycle Bottom,” marked in red to indicate where the final low might occur if this bearish pattern persists. The projected path illustrates a bounce from this lower region followed by gradual gains through mid-levels toward stronger resistance zones near $110,000 and approximately between $125,000 and $130,000—areas previously acting as ceilings.
Trader Emphasizes Retesting $80K After Bitcoin Revisits Key Support Zone
An updated chart posted by X user Heisenberg (@Mr_Derivatives) identifies Bitcoin’s next significant challenge at a former support-resistance area highlighted within a blue box. According to Heisenberg’s analysis, bulls must reclaim this zone first before targeting an advance toward around $80,000—the top of what is described as the bear flag pole—and view it as an initial step in rebuilding bullish momentum.
The annotated graphic frames this blue box as a longstanding pivot point which has alternated between resistance and support roles over time. The current price action returning here sets up what Heisenberg calls “a big battle,” emphasizing that maintaining levels above it is essential to prevent further downside risks.
If attempts at recovery falter within this zone, Heisenberg points towards another major support area marked by a green box ranging roughly from $47,500 to $52,500 on his chart. Should prices reach these lower bounds again without breaking down further significantly below them would be considered favorable for increasing buying interest according to his outlook.