The post Bitcoin Price Prediction: Will BTC Break Higher After Rejection Near $69K? appeared first on Coinpedia Fintech News
Bitcoin is once again testing an important resistance zone, and traders are watching closely to see what happens next.
On the daily chart, Bitcoin recently faced rejection near the $68,300 to $69,800 resistance area. This is not the first time price has struggled in this zone. Sellers have stepped in here before, and we are now seeing another pause in momentum.
So what does this mean for Bitcoin’s short-term outlook?
Bullish Scenario Still Alive
The broader view remains slightly bullish.
Bitcoin appears to have formed a potential “wave two” bottom around February 19. If that structure holds, the market could now be building a third wave to the upside. A third wave is typically the strongest move in a trend, but it still needs confirmation through a clear breakout.
Right now, price action looks messy on lower time frames. There is no strong breakout yet, which means the move higher is not fully confirmed.
A Pullback Could Come First
Even in the bullish setup, a short-term pullback would not be unusual.
A typical pattern would involve a small correction before continuation higher. If Bitcoin pulls back, the key support zone to watch sits between $66,194 and $66,956. As long as price stays above this range, the bullish structure remains intact.
If this support holds, buyers could step back in and push Bitcoin toward new local highs.
What If Support Breaks?
If Bitcoin falls below that support area, the outlook becomes more cautious.
In that case, the next major support zone would be between $64,535 and $62,592. A drop into that area would suggest a deeper correction before any strong rally resumes.
Breakout Level to Watch
For bulls, the most important level is still the $68,300 to $69,867 resistance zone. A strong daily close above this range would signal momentum shifting firmly upward and increase the chances of a move toward higher highs.
Final Outlook
Bitcoin is at a decision point. A small dip would not damage the overall bullish setup, but holding above key support is critical.
If support stays strong and resistance eventually breaks, Bitcoin could begin its next leg higher. If not, a deeper correction may come first before the next major rally.