Bitcoin (BTC) is retesting resistance ranges as its worth recovers the $71,000 mark. However, an analyst has warned that the bear market is anticipated to proceed and that the most recent bounce could possibly be short-lived.<\/p>\n
Related Reading<\/span><\/h2>\n<\/p>\nBitcoin Eyes Reclaim Of Former All-Time High Resistance<\/h2>\n
On Tuesday, Bitcoin surged 7.5% from the Sunday lows towards the $71,000 space, retesting this key stage for the second time in per week earlier than momentarily retracing towards the $69,000 stage.<\/p>\n
The cryptocurrency has been buying and selling between the $63,000-$71,000 worth vary over the previous month, briefly surging<\/a> above the higher boundary throughout final week\u2019s market bounce. However, BTC\u2019s worth has failed to carry its a number of breakout makes an attempt amid the market volatility.<\/p>\nIn a Monday analysis<\/a>, market watcher Rekt Capital noticed that Bitcoin is interacting with two key ranges that kind \u201can important overhead resistance\u201d: the 2021 and 2024 all-time highs (ATHs) at $69,000 and $71,300, respectively.<\/p>\nAs the analyst defined, these ranges was resistance within the month-to-month timeframe after the flagship cryptocurrency closed February at $66,970. Since then, BTC has repeatedly examined these key ranges from under within the each day timeframe however has did not reclaim them.<\/p>\n
Instead, it has produced upside wicks above $69,000 and $71,300, signaling that the previous ATHs are appearing as rejection<\/a> ranges in shorter timeframes and will turn into key resistance if it month-to-month closes under them.<\/p>\n![\"bitcoin\"](\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2026\/03\/data-src-image-2cb2db63-a950-4100-b27e-927ff59da34a.png?w=860&resize=860%2C665\")
BTC might flip its former ATHs into resistance. Source. Rekt Capital<\/figcaption><\/figure>\n\u201cFor Bitcoin to begin shifting this structure, price would need to Monthly Close above $69,000 by the end of March to position itself for a reclaim of the 2021 All Time High as support,\u201d the analyst asserted.<\/p>\n
\u201cSimilarly, the 2024 All Time High at $71,300 would likely require multiple Monthly Closes above the level in order to properly establish a reclaim process,\u201d he added.<\/p>\n
BTC Bounce To Be Short-Lived?<\/h2>\n
While the previous ATHs threat turning into resistance, Rekt Capital famous that Bitcoin is presently discovering essential assist on the 50-month Moving Average (MA), across the $64,000-$65,000 space.<\/p>\n
Historically, the flagship crypto has initially reacted<\/a> from this stage in bear markets, however finally loses it as assist. The latest bounce from the 50-month MA is enabling BTC to check the 2021 and 2024 ATHs as resistance \u201cfor the time being.\u201d<\/p>\nHowever, as soon as the breakdown happens, the extent often turns into a brand new resistance earlier than additional draw back continuation follows. Now, \u201cBitcoin is effectively sandwiched between two key reactive zones,\u201d he affirmed, which might result in short-term aid earlier than the mid-term draw back continues.<\/p>\n
Related Reading<\/span><\/h2>\n<\/p>\nThe analyst additionally observed<\/a> that BTC seems to be solely midway by the bear market, leaving the door open for additional draw back. In an X put up, he famous that BTC\u2019s shortest bear market lasted round one year, whereas it’s presently simply over 150 days into the present one.<\/p>\nOther analysts have suggested<\/a> that the cryptocurrency might observe the 2022 cycle playbook. At the time, the worth considerably retraced from the cycle peak, consolidated for months, after which had a ultimate bull lure earlier than its second main correction wave towards the market backside.<\/p>\nAs of this writing, Bitcoin trades at $71,307, a 3% improve within the each day timeframe.<\/p>\n![\"bitcoin,](\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2026\/03\/BTCUSDT_2026-03-10_09-33-18.png?w=860&resize=860%2C580\")
BTC\u2019s efficiency within the one-week chart. Source: BTCUSDT on TradingView<\/a><\/figcaption><\/figure>\nFeatured Image from Unsplash.com, Chart from TradingView.com<\/p>\n<\/div>\n
In a Monday analysis<\/a>, market watcher Rekt Capital noticed that Bitcoin is interacting with two key ranges that kind \u201can important overhead resistance\u201d: the 2021 and 2024 all-time highs (ATHs) at $69,000 and $71,300, respectively.<\/p>\n As the analyst defined, these ranges was resistance within the month-to-month timeframe after the flagship cryptocurrency closed February at $66,970. Since then, BTC has repeatedly examined these key ranges from under within the each day timeframe however has did not reclaim them.<\/p>\n Instead, it has produced upside wicks above $69,000 and $71,300, signaling that the previous ATHs are appearing as rejection<\/a> ranges in shorter timeframes and will turn into key resistance if it month-to-month closes under them.<\/p>\n \u201cFor Bitcoin to begin shifting this structure, price would need to Monthly Close above $69,000 by the end of March to position itself for a reclaim of the 2021 All Time High as support,\u201d the analyst asserted.<\/p>\n \u201cSimilarly, the 2024 All Time High at $71,300 would likely require multiple Monthly Closes above the level in order to properly establish a reclaim process,\u201d he added.<\/p>\n While the previous ATHs threat turning into resistance, Rekt Capital famous that Bitcoin is presently discovering essential assist on the 50-month Moving Average (MA), across the $64,000-$65,000 space.<\/p>\n Historically, the flagship crypto has initially reacted<\/a> from this stage in bear markets, however finally loses it as assist. The latest bounce from the 50-month MA is enabling BTC to check the 2021 and 2024 ATHs as resistance \u201cfor the time being.\u201d<\/p>\n However, as soon as the breakdown happens, the extent often turns into a brand new resistance earlier than additional draw back continuation follows. Now, \u201cBitcoin is effectively sandwiched between two key reactive zones,\u201d he affirmed, which might result in short-term aid earlier than the mid-term draw back continues.<\/p>\n The analyst additionally observed<\/a> that BTC seems to be solely midway by the bear market, leaving the door open for additional draw back. In an X put up, he famous that BTC\u2019s shortest bear market lasted round one year, whereas it’s presently simply over 150 days into the present one.<\/p>\n Other analysts have suggested<\/a> that the cryptocurrency might observe the 2022 cycle playbook. At the time, the worth considerably retraced from the cycle peak, consolidated for months, after which had a ultimate bull lure earlier than its second main correction wave towards the market backside.<\/p>\n As of this writing, Bitcoin trades at $71,307, a 3% improve within the each day timeframe.<\/p>\n Featured Image from Unsplash.com, Chart from TradingView.com<\/p>\n<\/div>\nBTC Bounce To Be Short-Lived?<\/h2>\n
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