Hello, and welcome to the third in our weekly Sunday night series of Bitcoin Algorithm Reports, in which we analyse Bitcoin’s price action, work through the key levels and set out what we think comes next.
Bitcoin is currently trading around $62,846 after a controlled pullback from the recent highs near $65,000-$67,000, within the last few weeks. Bitcoin is at the termination of its ascending triangle pattern, and is coiling up for a breakout. It is now hammering against the trend line which has capped price since the October 2025 peak, on the daily chart. The question is, will it break up or down?
The structure continues to favour a measured continuation higher. Multiple converging trend lines and horizontal levels are providing support in the $62,000-$63,000 zone. As long as this area holds on a daily closing basis, the technical picture stays constructive. Momentum indicators (RSI, MACD histogram, Stochastic, and volume-based measures such as OBV and CMF) are showing early signs of stabilisation and positive divergence after the recent consolidation. This is consistent with a market that is coiling energy rather than distributing.
Hold the line support: $62,800–$63,000 (current defence zone, a daily close below here would raise the risk of a deeper retest)
Intermediate resistance: $65,000-$67,000
First measured-move target: $71,000-$72,000
Primary upside objective: $74,000 (the clear horizontal zone marked on the chart and the natural extension of the current pattern)
Secondary extension: $77,000 if momentum accelerates through $74,000
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