Bitcoin (BTC) dropped this morning from 65,000 to a low of 64,362, just above the key support zone previously highlighted at 64,000-64,200. It didn’t even dip to 64,000 before being pulled back. This indicates strong support below; the slow sell-off that bears pressed for half a day was successfully recovered in a single rebound— a classic sign that the downward momentum has stalled.

Price is now back around 64,800, right in the middle of last night’s move, the short-term battleground between bulls and bears. However, this rebound isn’t a brutal surge, but a slow, steady climb. This is actually healthier—showing that not only short-term funds are supporting the price, but also funds that are gradually accumulating at lower levels. 64,500 and 64,300 are the two short-term support levels. As long as the pullback doesn’t break through these levels, the rebound can continue.

Next, first we need to look at the 65,000 level, the starting point of this morning’s sell-off. If price can return to this level, bullish sentiment will improve significantly, and there will be an opportunity to retest the resistance level at 65,500. From a trading strategy perspective, as long as the 64,000 support level holds, every pullback is a chance to buy. In a slow, steady uptrend, the biggest risk is missing the opportunity rather than chasing the highest price. Just be patient and wait for the price to stabilize above 65,000.

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