Bitcoin traders still see a BTC price relief bounce taking the market toward $70,000 despite heavy shorting and a trip toward range lows.

Analysts noted bitcoin is stuck between key support near $60,000 and resistance around $68,000, and a bearish chart pattern could send prices toward $54,000.

Bitcoin faces various macro and geopolitical volatility catalysts as it waits for cues at $64,000, with July relief potentially around the corner.