Bitcoin Could Be Entering Critical Pullback Phase Below This Level

Bitcoin is showing increasing signs of weakness as bearish pressure continues building below a critical technical level. With key support zones now under threat and reversal patterns beginning to take shape, BTC could be entering a decisive pullback phase that may determine the market’s next major direction. 

Buyers Continue Losing Momentum As Decline Deepens

Crypto analyst Kamile Uray stated that Bitcoin buyers continue to appear weak as the market faces another wave of downside pressure. The analyst explained that if BTC breaks below the key bottom at $74,929, it could confirm the completion of the final shoulder in a developing OBO structure while remaining under the previous low near $76,044.

Unless Bitcoin can achieve a decisive 4-hour candle close above $78,213, the bearish trend is likely to continue. A sustained breakdown below $74,929 could open the door for a deeper decline toward the $71,000–$68,000 region, which has been identified as a major Fibonacci support zone.

Source: Chart from Kamile Uray on X

Kamile Uray further explained that if stronger buying momentum eventually emerges from those lower levels, Bitcoin could attempt another recovery rally. During any upside move, the market would need to overcome resistance around $98,000, followed by the larger resistance region between $107,000 and $109,000.

However, if Bitcoin struggles to maintain strength above the recent peak near $126,199, the risk of another major corrective phase would remain active. In the case of a much deeper decline, Kamile Uray emphasized that the $60,000 level stands out as a critical long-term support area that could play a major role in future market direction.