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Bitcoin and Ondo: Key levels to watch after the recent pullback

As I mentioned in my analysis, the bearish scenario for Bitcoin was still the most likely. The market effectively continued its correction and is now approaching an important technical area. At the same time, ETF flows are still too timid to talk about a true return of institutional conviction. Finally, on the Ondo side, the euphoria that followed the SBI announcement attracted many retail investors, which is why I’m staying patient and disciplined with my entry points.

As I mentioned in the previous analysis, Bitcoin was heading toward the $60,000 area. For now, this scenario is playing out quite cleanly. Price tested the $62,200 to $62,500 zone, which continues to be one of the most important supports in the short term market. It’s precisely this area that, for the moment, prevents a clearer acceleration toward $60,000 and then toward $58,000–$59,000.

If we take a step back and look at the daily chart, the picture remains clear: Bitcoin is still moving within a bearish structure. Highs are getting progressively lower, bounces lack strength, and sellers still control the overall trend. This doesn’t mean a rebound is impossible, but at the macro scale there is still no sufficiently strong signal to talk about a lasting reversal.

As long as price holds above this $62,200–$62,500 zone, a technical rebound can still develop. On the other hand, a clear break of this support would, in my view, open the door to a faster move toward $58,000–$59,000. That’s the next area I’ll be watching very closely, as it has already served as a support point for the market in the past and could draw buyers back in.

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