Bitcoin Reclaims Ground Above $75K, Eyes $100K Psychological Level

Bitcoin's recent price action has seen a strong recovery from its support zone around $59,352-$60,461. This rebound has pushed the cryptocurrency back towards the upper end of its recent trading range.

On the 4-hour chart, the area around $59,352-$60,461 previously attracted buyers and marked the base of the current bullish recovery. Bitcoin is now trading near $79,000 after reclaiming several intermediate levels.

The key levels to watch on any pullback for Bitcoin are $75,682 and $71,929. If price can hold above these areas, the current bullish structure remains intact. A deeper retracement would put $66,820 back into focus, while the $60,461-$59,352 region remains a crucial support zone.

Looking to the upside, three main areas of interest emerge. The first target is around $95,000, where price may encounter its first significant resistance. Above that, the next area is near $100,000, both a technical zone and an important psychological level. If bullish momentum remains strong enough, the third target located near $109,542 could be in play.