Bitcoin s Current Market Position and Future Outlook

As of 8 a.m. on Saturday, Bitcoin is trading between 67,974 and 68,138 per coin, with a market cap of 1.35 trillion and a 24-hour trading volume of 46.99 billion. The cryptocurrency is currently hovering just below a critical resistance band, indicating that a significant price movement may be imminent.
On the daily timeframe, Bitcoin is in a corrective phase following a decline from approximately 97,900 to a low of 59,930. While there has been a rebound into the high- 60,000s, the price remains capped beneath 70,000 to 71,500, which is identified as a supply zone. Major support levels are at 59,900 to 60,000 and secondary support is between 65,000 and 66,000.
The four-hour chart shows a series of gradually higher lows from 65,620, indicating a short-term ascending structure. Support is defined between 66,000 and 66,500, while resistance is concentrated between 68,800 and 69,200. Price action has been stalling below 69,000, creating a tightening range that historically precedes a decisive expansion.
On the one-hour timeframe, Bitcoin is in a tight consolidation between 67,500 and 68,800. Immediate support is at 67,600 with resistance between 68,800 and 69,000. Volume is decreasing and volatility has contracted, which are signs of pre-expansion behavior. A break of this micro-range is expected to generate an impulse move of 1,000 to 1,500.