Bitcoin is sitting between two important chart signals, and both point to support zones that traders cannot ignore. One chart shows buyers defending the $67,000 area now, while the other suggests the market may still dip toward $57,000 to $58,000 before a stronger move begins. Bitcoin Finds Key Support at CME AVWAP Cluster The chart shared by Cantonese Cat suggests Bitcoin CME futures are testing an important support cluster near $67,000, where several technical signals now meet. On the monthly chart, price sits close to an anchored VWAP from the last cycle bottom, another anchored VWAP from the last cycle top, and a visible volume shelf on the right side of the chart. When several support markers line up in one area, traders usually treat that zone as more important than a single trend line or moving average. Bitcoin CME Futures AVWAP Support and Volume Shelf. Source: Cantonese Cat That is the main point behind the post’s argument. The chart implies Bitcoin may find it harder to break sharply lower because this area already holds a large amount of previous trading activity. In other words, the market is not falling into empty space. Instead, it is pulling back into a zone where buyers and sellers have done a lot of business before. The black line, marked as the AVWAP from the last cycle bottom, runs almost directly through the current price region. The blue line, marked as the AVWAP from the last cycle top, sits slightly below it. That creates a layered support structure rather than a single price floor. At the same time, the volume profile shows thick activity around the same zone, which strengthens the idea that this area may attract demand. Still, support does not guarantee a rebound. It only shows that the current area matters. If Bitcoin holds above this region, the chart supports the idea that the recent decline may slow and stabilize. However, if price loses this support cluster with strength, then the next move lower could open more downside pressure because the market would be falling through an area that many traders expected to hold. Bitcoin Faces Key Monthly Test Near $57K Support The chart shared by Super฿ro suggests Bitcoin may need one more drop toward its primary monthly uptrend before a stronger recovery can begin. On the monthly timeframe, BTC is trading near $67,269 after rejecting at an internal dotted trendline. The chart also shows the 50 month simple moving average near $58,117 and the lower Bollinger Band near $57,008, placing both support markers in the same area. Bitcoin Monthly Support Test at 50 SMA and Lower Bollinger Band. Source: Super฿ro That overlap matters because traders often treat clustered indicators as stronger support than a single line alone. Here, the chart argues that Bitcoin could move down toward the $57,000 to $58,000 zone to test the untouched primary uptrend, the 50 SMA, and the lower Bollinger Band at the same time. In other words, the setup points to a deeper retest, not necessarily a full trend breakdown. The RSI adds to that view. The lower panel shows the monthly RSI at 43.89, which is below the 45 level marked several times on the chart. The note on the image says Bitcoin has historically seen a maximum 25% drawdown once RSI closes below 45. That does not guarantee the same move now, but it helps explain why the chart author sees room for another leg lower before support becomes stronger. At the same time, the bigger structure is still important. The solid yellow primary uptrend line remains intact, while the recent drop has pushed price into a compression zone around major long term support. Therefore, the chart’s message is not fully bearish. Instead, it suggests Bitcoin may first flush lower, shake out weaker holders, and then try to rebuild from a stronger base. If BTC closes back above that support cluster after a wick lower, the chart would support a recovery case. If it loses that zone decisively, then the downside scenario would gain more weight. So the main takeaway is clear: Bitcoin is approaching a major monthly support area near $57,000 to $58,000, and that zone could decide whether this pullback ends as a reset or turns into a deeper decline.
