Bitcoin is showing renewed strength after a sharp rebound, signaling that 
buyers are stepping back in at key levels. With momentum building and price 
pushing higher, attention is now shifting toward the $79,000 resistance zone, 
where a breakout could confirm continued upside and open the door for a 
stronger rally. Selling Pressure After Initial Reaction Bitcoin saw an 
immediate response to yesterday’s developments, facing notable selling 
pressure as the market processed the news. Analyst Kamile Uray highlights that 
while the initial reaction was bearish, the possibility for a continued rally 
remains on the table, provided the immediate low of $73,371 is successfully 
defended. Related Reading: Bitcoin Price Gives Back Gains, But Structure 
Remains Bullish However, a 4-hour candle close below this mark would likely 
trigger a deeper correction toward the $68,720 level, which represents the 
critical 0.618 Fibonacci retracement of the most recent upward wave. Holding 
this support provides the foundation for a fresh leg up. On the bullish side, 
a decisive close above $79,000 would signal a continuation of the broader 
uptrend toward much higher targets. Uray identifies a major resistance cluster 
between $98,000 and $107,000–$109,000. Should the price face a rejection at 
these elevated levels, traders should expect a return to the previous support 
zones, ranging from $73,371 to the $66,000 region. Examining the daily 
timeframe, the $65,666 level serves as a pivot point. As long as Bitcoin 
maintains its position above this threshold, the overall structure remains 
skewed toward a potential rise. A failure to hold the $65,666 level would 
shift the focus to lower support levels at $63,823, $62,433, and $60,000. The 
most critical warning comes at the $60,000 mark; a daily close below this 
psychological and technical barrier would likely extend the corrective phase 
significantly. Bitcoin Bounces Strongly As Week Kicks Off In his most recent 
update, analyst Michaël van de Poppe noted a relatively strong upward bounce 
for Bitcoin on Monday. This movement is particularly significant as it occurs 
during a period where markets typically trend toward a risk-off stance ahead 
of the weekly opening. The ability of Bitcoin to push higher against this 
cautious backdrop suggests underlying strength in current demand. Related 
Reading: Bitcoin Breakout Confirmed, But Is It Real Or A Bull Trap? A key 
factor in this analysis is the recent decoupling from traditional safe-haven 
assets. While Bitcoin has shown resilience and upward momentum, gold has 
trended downward. Looking at the weekly outlook, the presence of a price gap 
at the $77,300 level remains a primary focal point for traders. Given the 
strength of the recent bounce and the existing technical vacuum toward that 
higher level, Bitcoin is expected to fill this gap and achieve new highs 
before the current week concludes. Featured image from Pixabay, chart from 
Tradingview.com

Bitcoin Rebounds Strongly — Can Bulls Drive Price Toward $79,000

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