Bitcoin Tries to Break Out of Trading Range as $66,000 Looms

Bitcoin is making another attempt to break out of its recent trading range as it approaches $66,000.

The overall trend remains bearish according to analysis, but the short-term picture suggests a move higher before any decline takes hold.

The support zone for Bitcoin currently sits between $59,317 and $62,436, and analysts say that as long as this zone holds, the case for a bigger bounce stays intact.

Bitcoin's recent pullback has been slow and choppy, a pattern that typically signals a pause rather than the start of a serious drop. This is in contrast to previous declines earlier this year, which moved faster and looked more aggressive.