Bitcoin price is trading above its 200-week simple moving average, which is considered to be an important trend indicator. Although the Bitcoin price is supported by this technical indicator, it still does not have any clear signals for a breakout and requires some sort of confirmation from it.
Bitcoin Price Mirrors 2015 Bottom Setup
On June 19, 2026, a crypto analyst, SuperBro, shared that the current price formation of Bitcoin resembles the bottom formed in the year 2015. He said that the current price of BTC is hovering around 5% higher than the previous low made in February and is trading above the 200-week SMA.
He highlighted some technical indications of the potential formation of a base in the Bitcoin price, which included the bullish 10/20 SMA weekly crossover, Stochastic RSI rising above 99, RSI rising from below 30 to above 45, and six weekly higher lows.
He further stated that the current drop in the price of Bitcoin was only less than 2% compared to the previous low, like the scenario that occurred in 2015.
Nevertheless, he emphasized that the 200-week SMA continues to be the key area for the Bitcoin price. Trading above it could enable a reversal pattern, but its breach will make it less likely.
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Bitcoin Price Stuck Between Key Levels
Another analyst, EliZ, explained that Bitcoin’s price is currently oscillating between major levels but without a definite direction. According to him, it is too early to trade as the setup is not giving any great opportunity.
On the short-term graph, the resistance level for the Bitcoin price is approximately $63,800-$64,000, whereas the support level stands at $61,650. If the trend reverses to become bullish, then the price of Bitcoin needs to reclaim its resistance level and maintain it as a support level.
Alternatively, he stated that the Bitcoin price could move to the lower level of support initially, generate a liquidity sweep, and recover on a return of buying pressure.
At the time of writing, BTC is trading at $63,552 with a 24-hour trading volume of $27.59 billion and a market capitalization of $ 1.27 trillion. BTC price increased 1.69% over the last 24 hours.
However, for now, Bitcoin is trading within these zones, and it is clear to everyone that the next big movement will depend on which one of them will break first.
This article contains market analysis and price predictions. These are not guarantees. Crypto markets are volatile. Always DYOR. Not financial advice.
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