Bitcoin Consolidates Above Support as Breakout Hopes Strengthen

Bitcoin started a fresh increase after settling above the $67,200 support and is now consolidating above $66,250, trading above the 100-hour simple moving average; a bearish trend line is forming with resistance near $68,000 on the hourly Kraken chart, and the pair could dip if it falls below $66,500–$66,250 ^[1].

Market coverage notes returning momentum, with one forecast highlighting buyers defending key EMA levels as BTC traded around $68,138 for a strong 24-hour gain, and separate reporting pointing to a broader surge past $65,000 amid dollar softening and technical milestones for new utility protocols ^{[4] [6]}.

On the broader outlook, CryptoQuant-linked analysis says Bitcoin’s 2026 market structure still aligns with three scenarios — keeping the market split between a range-bound path and more disruptive outcomes introduced earlier in the year ^[5].

Short-term price action hinges on the $66,500–$66,250 support zone and the $68,000–$68,800 resistance area; holding the support would sustain near-term breakout hopes, while a break below would risk a deeper pullback ^[1].