BTC Rally Stalls Again at Bear Market Resistance Band Near 79K Level

BTC stalled near $79K at the Bear Market Resistance Band, while key support held near $72.6K on the daily chart.

Bitcoin’s latest move higher has stalled again near the Bear Market Resistance Band around the $79,000 level.

That makes it the second straight range where this zone has stopped the rally. At the same time, Bitcoin is still holding above support near $72,592.

The setup now leaves traders watching for either a stronger rebound or another move lower.

BTC Rally Stalls Again Near The 79K Resistance Band

Bitcoin climbed into the Bear Market Resistance Band and then lost momentum again. The band sits close to the $79,000 area on the daily chart.

This is the second straight time that price has faced rejection there. As a result, the zone remains a major test for bulls.

A market observer described the move in a recent comment. The observer said, “we saw the $BTC rally top out at the Bear Market Resistance Band around $79K.”

The same comment said this was the second straight range with a rejection. That has kept this level in focus across the market.

In earlier bear markets, Bitcoin later broke above this band after repeated failures. That pattern is giving some traders hope for a later recovery.

However, the breakout has not happened yet in this range. So, price remains capped below an important resistance area.

For now, Bitcoin is trading below the band and below nearby retracement resistance. That means the market is still in recovery mode.

Buyers have managed a bounce, but not a breakout. Therefore, the next move depends on whether support continues to hold.

Key Support at 72.6K Keeps The Short-Term Rebound Alive

The chart shows a Fibonacci retracement range from about $59,630 to $120,198.

Within that move, the 0.786 level stands at $72,592. Bitcoin is now trading near $76,378, which is above that support.

Because of this, the level remains the key floor in the current setup.

Price recently dropped into the lower part of the retracement range and then recovered.

That rebound suggests buyers are active near this support zone. Even so, the market still needs steady closes above it. Without that, the recent bounce could weaken quickly.

If Bitcoin stays above $72,592, the next resistance comes in at $82,767. After that, traders will watch $89,914 and then $97,061.

Those levels could matter if momentum keeps building. Still, price must first clear the nearest barrier.

If support fails, the structure would weaken again. In that case, the next major support sits near $59,630.

That would place Bitcoin back near the base of the wider range. It would also keep the broader correction intact.

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Momentum Improves, But Bulls Still Need Confirmation

Momentum indicators are showing some recovery on the daily chart. The MACD line has moved above the signal line again.

The histogram has also turned positive. Together, these signals point to improving short-term momentum.

Even so, the MACD move still looks modest compared with earlier rallies. Because of that, the current rise looks more like a rebound.

It does not yet confirm a full trend change. Bulls still need a stronger move through resistance.

The RSI is near 61.45, which is above the neutral 50 mark. That suggests momentum has improved from weaker levels.

At the same time, the RSI is not yet in overbought territory. So, there is still room for prices to move higher.

For now, Bitcoin remains caught between support and resistance. Bulls need a break above $82,767 to improve the chart structure.

Bears are watching for weakness below $72,592. Until one side takes control, BTC may continue to trade in a tight range under the $79,000 resistance band.

The post BTC Rally Stalls Again at Bear Market Resistance Band Near 79K Level appeared first on Live Bitcoin News.