Bitcoin (BTC) is gaining buyer interest after setting a recent yearly low of $59,000 last week. Order book and liquidity data suggest the rally continues, with over $2 billion in compact liquidity concentrated near $65,000. Since last Friday, BTC’s bid-ask rate has remained positive.
The change in positioning and sentiment is also consistent with a bullish chart pattern targeting the $67,000-$70,000 range.
BTC bulls are trying to regain control near support
Bitcoin’s recent rebound to $63,500 followed a bullish divergence between the price and the Relative Strength Index (RSI) on the four-hour chart. The price bottomed out during the early June sell-off while the Relative Strength Index (RSI) formed a higher low. The signal indicated that the downside momentum was dying down before buyers moved in.
BTC/USD, four-hour chart. Source: Cointelegraph/TradingView
Bitcoin is also traded within a growing triangle. A confirmed breakout could target the daily fair value gap between $67,500 and $70,500, an area of ​​trade imbalance or liquidity gap left during the last market correction.
Order book activity supports this move. Data from Hyblock shows that the bid-ask ratio remained positive at 0.05 after Bitcoin hit its yearly low of $59,000 last Friday. The indicator tracks aggressive buying and selling activity. A positive reading suggests that buy-side market orders are slightly outperforming sell-side orders.
BTC price, bid-ask ratio, spot CVD. source: Hyblock
Cumulative Volume Delta (CVD) data provides another layer of support. Smaller cohorts (orders up to $10,000 and $100,000) showed improvements in purchasing activity of $53 million and $157 million, respectively, while the largest participants ($100,000-$10 million) significantly reduced net sales pressure by $900 million.
Crypto analyst Kripto Holder highlighted a $2.68 billion compact liquidity cluster near $64,600, calling it a major upside liquidity pool.
Analyst he said Bitcoin’s ability to stay above $63,000 following renewed conflict in the U.S.-Iran war adds weight to the currency recovery argument. CVD spot inflows also indicate demand from spot buyers.
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BTC Needs to Recover $66,000 Soon: Analyst
PILTR market analyst excellent that BTC long exposure has been gradually increasing over the past five days. The current positioning is 237 long levels versus 128 compact levels, creating a positive imbalance estimated at $4 billion.
These price levels are closely in line with analysis by cryptocurrency trader Ardi, who he argued that Bitcoin is still trading in a bearish pennant after falling from $83,000 to $59,000. The analyst identified $64,000 and $66,000 as the two most essential levels for the current economic recovery.
BTC/USD, Ardi Four-Hour Analysis. Source: X
According to Ardi, a move above $64,000 will remove both horizontal resistance and the pennant structure, giving Bitcoin additional room to the upside. The next hurdle is near $66,000, the former major support level that now acts as resistance.
Reclaiming this area would strengthen the case for moving to a zone of above-price liquidity and an unbridged fair value gap between $68,000 and $70,000.
However, PLTR also identified weekend positioning as a short-term variable. The analyst noted that weekly profit-taking often results in counterflows on weekends, especially after a sustained build-up of long exposures.
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