Bitcoin is testing key areas of support After reclaiming the $73,000 to $74,500 zone in various time frames. One chart shows a possible retest after the breakout, while the other suggests that the former resistance is starting to act more like support.
Bitcoin weekly close retests $73,000 back into focus
Bitcoin could be gearing up for a retest of the breakout zone around $73,000 following a weekly rejection at the 21-week EMA, according to a chart shared by X user Rekt Capital. This setup shows the green 21-week EMA acting as an overhead resistance level, while the blue horizontal levels near $72,810 and $65,710 indicate the major structure of the previous double bottom pattern. As such, Bitcoin is left in a technical position where the decline may still support a broader breakout story, rather than breaking it.
Bitcoin weekly EMA and double bottom retest setup. sauce: TradingView / Recto Capital
On the chart, $BTC It recently rebounded from the lower blue support zone around $65,700 and pushed back towards the higher blue levels around $72,800. However, the price is still below the green 21-week EMA, which means the market has not yet fully regained its moving average. Recto Capital argues that such weekly closes could confirm that the EMA is resistance rather than support.
If this happens, Bitcoin could fall and test the top of the double bottom formation near $73,000. Chart-wise, it would be a retest after a breakout. These retests are often important because they indicate whether previous resistance can now be maintained as support. If buyers defend the area, the breakout structure will become stronger.
This chart also suggests that while the recent bounce has improved short-term momentum, it is not enough to completely change the situation on higher time frames. $BTC has recovered quickly from the March lows, but the green EMA is still above the price and continues to fall. Therefore, the market is still in a recovery phase rather than a confirmed trend reversal.
At the same time, the lower blue band near $65,700 remains a deeper support area to watch if the first retest fails. Holding above the upper blue zone will keep the breakout logic intact. A move through that will increase the risk of a return to a broader range.
Overall, this chart supports Rekt Capital’s view that Bitcoin is approaching a decisive weekly level. A rejection at the 21-week EMA could result in a healthy retest near $73,000. If that retest holds, the double-dip breakout will look even more convincing.
Bitcoin turns $745,000 into major support zone on daily chart
According to a daily chart shared by X user Super฿ro, Bitcoin may be building support around $74,500 after multiple technical levels converged in the same area. This setup shows the 2025 low, the 0.382 Fibonacci level, and the 100-day simple moving average clustered around that zone. Taken together, these levels now appear to be moving from resistance to possible support.
Bitcoin daily support reversed at $74.5k. sauce: TradingView / Superlo
The chart also shows that Bitcoin is trading within an uptrend structure after recovering from a sharp decline in early February. Recently, the price pushed back above the red horizontal line near $74,502 and held in that area rather than rejecting it. This change is important because previous resistance is often an important supporting test during the recovery phase.
Super฿ro also noted a drop in low volume last weekend, but the chart suggests a quick reversal with Monday’s strong green candlestick. This type of reaction usually indicates that the seller was unable to maintain control after lowering the price. As a result, buyers regained momentum near the same support cluster.
At the same time, the chart still shows overhead pressure. Bitcoin is still below the Fibonacci highs near $78,982 and $83,461, but the blue 200-day moving average continues to trend above the price. So while support has improved around $74,500; $BTC An even stronger follow-through is required to regain the next resistance zone.
The broader structure on the chart adds context to its movements. A deep correction occurred following a bull trap near the late 2025 high, but a subsequent bear trap formed near the April low before the rebound began. Since then, Bitcoin has risen to the middle of the range and is now attempting to stabilize above the area that previously capped the market.
