- Price Analysis: Bitcoin Maintains Gradual Rebound


Bitcoin is currently trading at $66,356, continuing its bounce above the $66,000 level with a gradual improvement in its technical indicators. The Parabolic SAR indicator is significantly below the spot market price near $60,943, indicating that the recent rebound is initially supported, while the MACD remains above the zero line on the daily chart, signaling increasing bullish momentum. Additionally, the Relative Strength Index (RSI) is stable below the midpoint at around 44 on the same chart, with buying pressure remaining moderate.

Daily chart of the BTC/USDT pair
On the upside, immediate resistance appears at the 50-day exponential moving average at $70,554, followed by the 100-day EMA at $73,196, while the 200-day EMA at $78,425 forms a broader ceiling unless buyers can extend the recovery.

On the other hand, the Parabolic SAR level near $60,943 forms the first notable support layer, and a break back below that region would undermine the current rebound and reopen the path to $BTC losses.
BTC-0.67%
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