Bitcoin's recent price action has been closely watched by traders and investors alike, with the cryptocurrency testing an important support area after reclaiming the $73,000 to $74,500 zone on different time frames. According to charts shared by analysts Rekt Capital and Super฿ro, Bitcoin may be setting up for a retest of the breakout zone near $73,000.
The setup shows that the green 21-week EMA is acting as overhead resistance, while the blue horizontal levels near $72,810 and $65,710 mark the key structure from the earlier double bottom pattern. Rekt Capital argues that a weekly close like this could confirm the EMA as resistance rather than support.
Meanwhile, Super฿ro's chart shows Bitcoin trading inside a rising structure after recovering from a sharp early February drop. The chart suggests that the recent rebound has improved short-term momentum, but not enough to fully shift the higher time frame picture. BTC remains below the higher Fibonacci levels near $78,982 and $83,461, while the blue 200-day moving average continues to trend above price.
Overall, the charts support the view that Bitcoin is close to a decisive weekly level. A rejection at the 21-week EMA could lead to a healthy retest near $73,000. If that retest holds, the double bottom breakout would look more convincing.