BTC Consolidating Above $62K: Sustainable Recovery or Temporary Pause Before Crash? (June 2026)

After a quick candle tail down to $61K, testing the bull market trendline and the 200-week SMA, the Bitcoin price is perhaps starting to settle above these big support barriers. Are we in for a period of sideways movement before the next leg down, or could a bottom already be forming?

Bull market trendline provides support

Source: TradingView

The 4-hour chart shows how the bull market trendline has now been tested a couple of times and how the $BTC price was bought back up very quickly each time it went below this important trendline. Entering the picture again is the bear market trendline. This is at a level of $58K should the $BTC price potentially crash down to retest it. It was the retest of the bear market trendline that restarted the bull market last time around in November 2022. Could this happen again?

Currently sitting on a $62,800 horizontal support level, the $BTC price has passed above the descending trendline that formed at the start of the crash out of the bear flag. The price looks to have retested and so if there is strength in the bulls, there is nothing to stop the price going up from here, although the Stochastic RSI indicators have just crossed down and market sentiment remains very poor.

Sideways and upwards from here?

Source: TradingView

The daily time frame reveals that there probably isn’t much, if anything, left in this current crash. That said, there is still the possibility that the bull market trendline could break, and the $BTC price could come down to retest the bear market trendline. Other than that, unless there is the most fearful geopolitical or economic news, a period of sideways or upward movement would seem to be the most probable option from here.

The bottom of the chart shows the Stochastic RSI indicators at their bottom, ready for a cross back up, and the Relative Strength Index (RSI) displays an indicator line that is at almost the same overbought level as when the $BTC price crashed to $60K. A return back up to the major $66K resistance level looks to be on the cards.

Bear market trendline retest to initiate the next bull market?

Source: TradingView

The weekly time frame enables us to clearly see the two most recent bear markets and note just how closely they resemble each other. Two sizable bear flags helped the downward continuation of each, and the tops of the first bear flags set the downside angle for the rest of the bear market.

What follows next could mark the bottom of this current bear market. If one looks back to the 2021-22 bear market, the bottom was set by a breakout of the bear market trendline, and then a retest further down. Once that retest was made, it was off to the races for the next bull market.

If we look at the current $BTC price action we can see that a retest of the bear market trendline is quite near - at around $58K. However, if the price did suddenly drop down and make that retest, wouldn’t it be too soon for the bear market to end? The typical length of a bear market would take this one out to Q4, probably around October. 

Could the price action chop around for another 3 or 4 weeks before finally coming down to retest the bear market trendline at a lower level? Possibly yes, but this would still mean an earlier finish to the bear market. 

In conclusion, the retest of the bear market trendline could signal the end of the bear market. That said, there are differences in these last two bear markets, this might just be another of them. What we can say is that the end of the bear market is not far away and that we have already endured the greater part of it.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.