Technical analysis of Bitcoin’s price action on the daily candlestick timeframe places the cryptocurrency around the same resistance region where previous relief rallies failed, turning the current price zone into a major decision point for the next phase of the market. At the time of writing, Bitcoin is trading around $62,950 and bulls are trying to stabilize above $60,000 after some recent days of strong selling pressure.
On-chain analyst VoidOnChain has laid out a clear roadmap that charts the path forward from the current price action, but the roadmap does not promise an immediate recovery.
Bitcoin returns to the zone where relief rallies continue to fail
Bitcoin daily chart reveals trend of reduction in relief gatherings, each failing at a lower level. Looking at the previous structure on the chart below, BTC crossed an ascending channel, entered a selling zone in late 2025, and then crashed.
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The current configuration shows a similar sequence, Bitcoin having already been rejected from the bull trap level around $82,000 in May 2026 before sliding into the lower range. Since then, Bitcoin has been in a downward trend and has broken the lower trendline of the channel.
Daily candlesticks since the outage have been entirely bearish, causing Bitcoin price to approach a buy zone below $50,000 which has served as a buy zone in 2023. Interestingly, the road map shown in the chart, as shown below, begins with Bitcoin moving below $60,000 before moving to the buy zone around $53,000 and then $47,000.
What to expect for the next three months
The analyst’s short-term outlook has a specific sequence: $60,000 as the immediate target, $53,000 as the next key level. expected from next week, and a deeper push to $47,000 by July which sets the ultimate low. This movement corresponds to a C wave on the graph, the same as the C wave which took place from January to early February 2026.
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Once the corrective structure is complete, VoidOnChain’s roadmap foresees a recovery to $87,000 initially, followed by an extension to $151,000 by January 2027.
The Bitcoin market is currently divided between fear and buy from informed traders. The bears controlled the market over the weekend, but the selling pressure began to ease over the course of the week.
Strategy also added to accumulation story after announcing a $101.3 million Bitcoin purchase between June 1 and 7, acquiring 1,550 BTC at an average price of $65,333. Procurement helped to allay some concerns This followed Strategy’s earlier sell-off of Bitcoin, which weighed on market sentiment. Still, many crypto analysts believe that Bitcoin has yet to provide clear bullish confirmation, and Bitcoin could suffer another accident towards an accumulation zone.
Featured image from Pixabay, chart from Tradingview.com
