Bitcoin (BTC) has surged back above the crucial $75,000 mark, a level that traders are closely monitoring as an important weekly support point.
Key Insights
The $75,000 threshold serves as a pivotal weekly level influencing Bitcoin’s next directional move.
Maintaining the April 2025 low is essential to preserving the upward trend; falling below it shifts attention toward lower price targets.
Following a significant correction, Bitcoin’s price has returned to a critical zone that often dictates whether the market will continue its upward momentum or enter a deeper retracement phase. As highlighted by analyst Merlijin The Trader, there are two distinct scenarios ahead for Bitcoin based on how it performs around this key area.
BITCOIN DOESN’T RALLY WITHOUT FIRST SHAKING EVERYONE OUT.
The deeper the sweep,
the stronger the base.
Old liquidity near $69K is textbook Wyckoff spring.
Fear builds the bottom.
Patience catches the move.
That’s how the next leg is born. pic.twitter.com/VT4PmgNfn0— Merlijn The Trader (@MerlijnTrader) February 3, 2026
Merlijin’s chart underscores a familiar cyclical pattern: intense sell-offs that clear out liquidity and force weak hands to capitulate before launching into another major rally. He identifies previous liquidity concentrated between approximately $69,000 and $75,000 as an archetypal base-building region where fear peaks and stronger investors typically emerge. However, Bitcoin currently trades below both its 20-week and 50-week moving averages—a technical setup that adds tension to market sentiment.
$75K Support Holds: Uptrend Remains Intact
The first potential outcome assumes that Bitcoin holds above its April 2025 low while forming a higher low near $75,000 on weekly charts. If this scenario unfolds successfully, it preserves an overall structure of ascending highs and lows—indicating that recent declines represent deep corrections rather than trend reversals.
From a moving average standpoint, although having the 20-week average at or below the 50-week average isn’t ideal for bulls—it doesn’t automatically imply bearish dominance either. Historically in prior cycles such crossovers have appeared late after most downward moves had already occurred. For this bullish case to gain momentum again, Bitcoin must stop making new lower lows in this range and begin closing weeks strongly above these averages.A decisive close over $100,400, which approximates current resistance at its 50-week moving average, would signal renewed buying strength.
If Structure Breaks: Decline Toward Lower Zones Likely
The alternative scenario involves losing support at April’s low from last year, which would break down the higher-low pattern entirely. This failure would invalidate $75,000 s role as support, endangering further downside risk expansion rapidly thereafter.
If such structural weakness materializes, $50,000–$60,000 ranges become critical zones of interest due both psychologically and historically since they often serve as reset areas following steep drops from cycle peaks.