Bitcoin bounced from its lower weekly Bollinger Band near $57,247, establishing a recovery setup after weeks of weakness according to analyst Sky. The next key test sits near the middle band around $70,000, while analyst Kaz identifies $65,600 as a potential liquidity target before a possible rejection toward $60,500. The technical setup depends on Bitcoin holding support at $62,700, which lines up with the monthly point of control and a fair value gap.
Bitcoin Bollinger Band Bounce Targets $70,000 Middle Band
Bitcoin bounced from the lower weekly Bollinger Band, which sits near $57,247. That level acted as the main downside boundary on the weekly chart. According to Sky, the bounce suggests the lows may be in and the next move could target $70,000.
That target lines up with the middle Bollinger Band, shown near $69,892. Reclaiming the middle band would be the first stronger sign that buyers are regaining control. If Bitcoin clears that area, the next major upside level would be the upper band near $82,538.
The chart shows BTC reacting from the lower Bollinger Band support level. The bullish case depends on BTC holding above the lower band. A move back below that area would weaken the bounce and put the recent lows back in focus. Holding that bounce keeps the $70,000 target alive.
Bitcoin May Test $65,600 Before Potential Pullback to $60,500
Bitcoin may extend higher before making its next major pullback, with analyst Kaz watching $65,600 as the next liquidity target. The chart shows BTC rebounding after price moved close to the $60,000-$61,000 area but did not fully enter the analyst's zone of interest. According to Kaz, that area was front-run, meaning buyers stepped in before price reached the expected support zone.
Kaz expects Bitcoin to extend higher before revisiting deeper downside liquidity. The next upside target sits near $65,600, where the chart marks a rejection zone and liquidity grab area. Before that move, Kaz is watching for a pullback toward $62,700. He said that level lines up with the monthly point of control and a fair value gap, making it an important short-term support area.
If BTC holds $62,700, the chart suggests price could continue higher and clear the $65,600 highs. Kaz said he would look for short entries near $65,600. From there, the chart points to a possible rejection and move back toward downside liquidity near $60,500. Bitcoin may test $62,700 first, then push toward $65,600 before sellers try to regain control.
FAQ
What is Bitcoin's current technical setup after the Bollinger Band bounce?
Bitcoin bounced from the lower weekly Bollinger Band near $57,247, with the next key test near the middle band around $70,000 according to analyst Sky. The upper band sits near $82,538.
What price levels is analyst Kaz watching for Bitcoin?
Kaz is watching $62,700 as short-term support that lines up with the monthly point of control and a fair value gap. He identifies $65,600 as a potential liquidity target and rejection zone, with $60,500 as downside liquidity if price pulls back from higher levels.
What would invalidate Bitcoin's current bounce setup?
A move back below the lower Bollinger Band near $57,247 would weaken the bounce and put the recent lows back in focus according to the technical analysis provided by Sky.
