Bitcoin Momentum Fades as Resistance Caps Rebound Attempt

At the time of writing BTC is trading near $67,000, after sliding from intraday highs above $68,000. The asset remains more than 50% below its all-time high, reinforcing the view that the market is still navigating a cyclical downturn rather than a confirmed recovery phase.

Brandt has based his outlook on historical four-year cycle behavior, noting that prior bear phases often retraced 50% or more before establishing durable bottoms. He recently projected downside toward the $58,000 area when Bitcoin was trading around $90,000, arguing that the correction fits past structural patterns.

From a technical standpoint, Bitcoin is consolidating below short-term resistance near $68,200–$68,500. Repeated rejection in that zone has formed a series of lower highs on intraday charts, signaling supply pressure. Immediate support sits around $65,800–$66,000, with a break below that region potentially exposing the $64,500 and $63,000 levels.

The relative strength index is hovering near the mid-50 area, indicating neither overbought nor oversold conditions. This suggests the market lacks strong directional momentum. Meanwhile, the moving average convergence divergence indicator has begun to flatten after prior negative readings, hinting that bearish momentum is fading but not yet reversing decisively.

Brandt also dismissed claims that Bitcoin is forming an inverse head-and-shoulders pattern, arguing that classical charting principles do not support that interpretation. In his view, the current structure more closely resembles a consolidation within a broader downtrend.

Dominance and Flow Signals Remain Mixed

According to data cited by Matrixport, Bitcoin dominance is stabilizing near 58%, moving largely in tandem with overall crypto market capitalization. The lack of a sharp rise in dominance suggests capital is not aggressively rotating back into Bitcoin as a defensive play.

Spot Bitcoin ETF flows have also been inconsistent, with intermittent outflows reinforcing the absence of strong institutional accumulation at current levels.

Taken together, technical structure, flow data and macro uncertainty point to a market that may attempt tactical rebounds but remains vulnerable to renewed downside. For sustained upside traction, Bitcoin would likely need a decisive break above resistance accompanied by expanding volume and strengthening momentum indicators – conditions that have yet to materialize.

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