---
title: "Is the Bitcoin rally losing steam at key Fibonacci resistance?"
url: https://diffcoin.com/is-the-bitcoin-rally-losing-steam-at-key-fibonacci-resistance/
description: "Bitcoin is testing a major resistance zone with confluence across key indicators. A rejection here could trigger an ABCD correction, targeting the $60K–$67K region for a potential macro higher low."
published: 2025-04-23
updated: 2025-04-23
author: "Mila"
site: "Diffcoin"
---

# Is the Bitcoin rally losing steam at key Fibonacci resistance?

Bitcoin is now at a pivotal turning point, trading into a dense cluster of technical resistance. While momentum has favored bulls recently, confluence with several high time frame metrics suggests this may be the setup for a deeper corrective phase.

Bitcoin (BTC) is currently trading at a significant resistance region, where multiple high time frame technicals converge. These include the previous point of control, the value area low of a prior range, and most notably, the 0.618 Fibonacci level, which aligns with the potential completion of a C-leg in an ABCD correction pattern.

This setup gains further relevance as the price structure forms a classic ABC retracement against the prevailing uptrend, hinting at the potential for a deeper leg lower if resistance holds.

## Key points

- Bitcoin is testing resistance at the.618 Fibonacci extension, aligned with major high timeframe levels.
- The price structure resembles an ABCD corrective pattern with C-leg completion at current levels.
- Short squeeze behavior has driven the rally, lacking organic support—raising rejection probability.

![Is the Bitcoin rally losing steam at key Fibonacci resistance? - 1](https://crypto.news/app/uploads/2025/04/BTC-ABCD-Correction-1024x496.png)

Bitcoin USDT (4H) Chart Source: TradingView

The ABCD corrective pattern, widely recognized in Elliott Wave Theory, is unfolding clearly on Bitcoin’s chart. This structure is characterized by three waves: the A-wave pulls back from local highs, the B-wave continues the trend, and the C-wave retraces again before the D-leg potentially drives a deeper move.

Currently, Bitcoin appears to be completing its C-leg, and the area around $94,000–$95,000 is presenting major technical resistance. This includes confluence from the 0.618 Fibonacci retracement from the all-time high and key high time frame daily support/resistance levels.

The recent rally appears to have been driven primarily by short covering rather than healthy spot accumulation. This lack of organic buying is a concern for bulls, especially when price meets a dense resistance cluster.

Volume remains inconsistent, and the market’s reaction at this level will likely determine Bitcoin’s next major swing direction. If rejection occurs at the current C-leg zone, it may trigger the D-leg pullback and complete the correction.

Momentum traders and structure-based analysts are closely watching the $60,000–$67,000 zone, as it lines up with the projected D-leg of this ABCD pattern. This region also offers a high probability location for a macro higher low, aligning with the broader trend and possibly forming the base for the next impulsive wave.

## What to expect in the coming price action

If current resistance holds and a rejection plays out, Bitcoin is likely to rotate lower toward the $60K–$67K region. This would complete the ABCD correction and establish a key higher low within the broader trend.

However, if price reclaims the $94,000–$95,000 resistance zone with strong volume and follow-through, it could invalidate the bearish setup and open the door for continuation toward all-time highs.

For now, caution is warranted as Bitcoin tests a major technical ceiling.

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