If this Bitcoin rebound really starts the B-wave from the 80,600 bottom, there’s one key level to watch—the weekly MA60 moving average.

Looking back at history, in the 2021 cycle, after breaking below the weekly MA60, the rebound was blocked and reversed right at this level. Now, the weekly chart has formed a bearish divergence at the top, and the structure is somewhat similar to the script back then.

So even if there’s a rebound this time, MA60 is very likely to be the ceiling. At this stage, it’s safer to treat this as a rebound rather than rushing to call a reversal. The technicals are there for a reason—caution is still warranted.