Bitcoin retests $71k resistance. Analyst warns the bounce may fade.

Bitcoin (BTC) tapped $71,000 again after a 7.5% rebound. Rekt Capital says the former ATHs still cap price.

BTC tested the $71k area twice in a week, after briefly breaking higher during last week’s bounce above the range.

Rekt Capital highlights two overhead levels: the 2021 ATH at $69,000 and the 2024 ATH at $71,300. Since February’s monthly close at $66,970, both flipped to resistance on higher timeframes, the analyst wrote in a note.

Short-term wicks above $69k and $71.3k signal rejection. Those levels can harden as resistance without a decisive monthly reclaim on lower timeframes and, ultimately, on the monthly close per the analysis.

“For Bitcoin to begin shifting this structure, price would need to Monthly Close above $69,000 … Similarly, the 2024 All Time High at $71,300 would likely require multiple Monthly Closes above the level,” the analyst said in the note.

Support sits near the 50‑month MA around $64k–$65k. Historically, BTC first bounces here in bear markets, then loses the level before further downside, the piece notes with prior cycle context. For now, that bounce is enabling retests of the ATH band as resistance per Rekt Capital.

The analyst added that the bear market may be only halfway through. The shortest prior bear lasted ~365 days; the current one is just over 150 days old on X.

Some expect a 2022-style path. That playbook saw a sharp retrace from the peak, months of consolidation, a bull trap, then a second leg down toward the bottom per recent on-chain reads.