Key Takeaways:
Bitcoin’s price faced a firm rejection at the 100-day moving average near $65,500 on April 15, falling 2.5% as technical resistance held firm.
"This is a pivotal moment for Bitcoin's short-term trend," said Alex Thorne, head of technical analysis at crypto research firm Glassnode, in a note to clients. "The 1D MA100 has proven to be a significant ceiling since late 2025, and the market's reaction here is critical."
The rejection is technically significant as it's the first test of this moving average since January 15, 2026. Data from TradingView shows the 1D MA100 has acted as a consistent resistance level since it was first established as a barrier on October 10, 2025. Open interest in Bitcoin futures has reportedly declined by 5% in the last 24 hours, according to CoinGecko, suggesting traders are closing out bullish positions.
A sustained failure to overcome the 100-day moving average could confirm a bearish outlook, potentially triggering a deeper price correction toward the next major support zone around $58,000. The price action over the next week is crucial for determining if this is a temporary pullback or the start of a more significant downturn.
The current price action is drawing comparisons to the market structure in Q4 2025. On October 10, 2025, Bitcoin similarly failed to break above its 100-day moving average, which was followed by a multi-week correction of over 20 percent. While past performance is not indicative of future results, the parallel is causing concern among traders. The correlation between Bitcoin and the Ethereum market remains high, with ETH also showing signs of weakness near its own key technical levels.
As of 18:00 UTC, Bitcoin was trading at approximately $63,850 with a 24-hour trading volume of $45 billion. Its market capitalization stands at $1.26 trillion. For a bullish reversal, bulls would need to push the price decisively above the $65,500 resistance level in the coming days.
This article is for informational purposes only and does not constitute investment advice.
