Bitcoin has bounced off its recent lows and reclaimed a key long-term average, which is good news for buyers hoping the bottom is in — though a full trend reversal isn't confirmed yet.

• Bitcoin climbed back above its 200-week moving average, a level that has marked good long-term value in past cycles.
• The weekly RSI is showing bullish divergence, the same pattern that marked bottoms in 2014, 2018, and 2022 — but it may need one more push to confirm.
• The move already cleared short-term targets near $62K and $64K, and shorter timeframes are starting to flip bullish.
• This is called "a major low," but not yet the confirmed macro bottom — that needs a higher low and higher high on the weekly chart first.
• The stock market (S&P futures) is also holding up, with more upside expected through the summer before any possible top later in the year.

Outlook: More upside is likely over the next few weeks toward the mid-to-high $60Ks, as long as Bitcoin holds above its recent low.

## Bitcoin Levels

• **Bias:** Bullish short-term (a major low is likely in), but higher timeframes still in a downtrend — not yet a confirmed macro reversal.
• **Buy / accumulate:** The recent low zone around $57,750–$60,000 (last week's dip was the risk-management/bottom-pick point).
• **Targets:** $66,000–$69,500 (June rally highs) near-term; then the low/shallow $70s; volatility play toward the 21 EMA at ~$71,500.
• **Resistance:** ~$64,000 (short-term target, roughly where worst-performer short liquidations sit at $64,462); CME Sunday's high $63,640 for a bullish engulfing close.
• **Support:** ~$60,000 (last week's weekly open low); recent low $57,750.
• **Key pivots to flip trends up:** 2-day above $61,650; 3-day $63,800; 5-day $63,300; weekly MACD $67,200.
• **Invalidation:** A close below the ~$60,000 low would break the bullish setup.