As the crypto market recovers from last week\u2019s correction, Bitcoin (BTC) is attempting to reclaim a crucial price zone. Despite the bounce, some analysts have warned that the bottom may not be in yet, suggesting the flagship crypto could soon retest its recent lows.<\/p>\n
On Monday, Bitcoin continued its sideways move, trying to turn a key area into support for the third consecutive day. After hitting a two-year low of $60,000 last week, the flagship crypto has bounced 17.5% to trade between $68,000 and $72,000 over the past few days.<\/p>\n
Nonetheless, the cryptocurrency has failed to reclaim the upper zone of its short-term price range, raising questions about the direction<\/a> of BTC\u2019s next move.<\/p>\n As the price recovered, Crypto Bullet noted that the BTC printed a \u201cstrong weekly close\u201d above the 200-week Exponential Moving Average (EMA), leaving Thursday\u2019s correction as a long wick.<\/p>\n The analyst cautioned that these wicks have usually been filled the following week, pointing to the late February 2025 and early October 2025 corrections and the subsequent performance.<\/p>\n Based on this, he suggested that Bitcoin could retest the $60,000 area again, where the 200-week Moving Average (MA) is also located. Similarly, Ted Pillows highlighted<\/a> BTC\u2019s Monday bounce above $70,000, asserting that the key level to defend is the $68,000 support, where the EMA200 sits.<\/p>\n \u00a0If the price fails to hold this level, the market observer suggested a deeper correction could be expected, with Bitcoin risking a drop below the recent lows if that level also fails to hold.<\/p>\n Meanwhile, Ali Martinez hinted<\/a> that BTC\u2019s bottom might not be in, as \u201cBitcoin has historically bottomed around the \u22121.0 MVRV Pricing Band.\u201d According to the chart shared on X, that level currently sits at $52,040.<\/p>\n Another market watcher highlighted BTC\u2019s macro descending triangle pattern, which it has been forming<\/a> in the monthly timeframe since mid-2024, suggesting that its potential bounce could be a \u201clesser relief rally compared to the 2024-2025 advance to the upside.\u201d<\/p>\nBTC To See Leeser Relief Rally?<\/h2>\n