@Bitcoin Testing 68.8K High – Breakout Incoming or Rejection Again
$BTC USDT is currently trading around 68,021 after printing a 24H high near 68,821. On the 15-minute timeframe, we are seeing a strong recovery structure with higher lows forming from the 66,800 zone. Momentum has clearly shifted upward in the short term.
Technical Analysis:
Price bounced aggressively from the 66,800–67,000 support area and formed a clean bullish leg toward 68,800. However, the latest candle shows rejection near the intraday high.
Key Resistance Levels: 68,800 – Immediate resistance and 24H high
69,000 – Psychological barrier
70,000 – Major breakout level
Key Support Levels: 67,600 – Minor intraday support
67,000 – Strong demand zone
66,800 – Key structural support
Price is trading above short-term moving averages on the 15m chart, suggesting bullish intraday momentum. RSI is likely approaching overbought territory after the sharp push, which explains the small pullback. MACD momentum appears positive but may start flattening if price fails to break 68,800.
Market Sentiment:
Short-term sentiment is Bullish, but facing resistance. Bulls are in control as long as price holds above 67,600–67,000.
Strategy:
Aggressive traders can trade the breakout above 68,800 with volume confirmation.
Conservative traders should wait for either a pullback toward 67,200–67,000 or a confirmed close above 69,000.
Recommendation: Trade only on confirmation, otherwise wait.
Do you think BTC breaks 69K next, or do we retest 67K first?
Not Financial Advice (NFA)
