Bitcoin was trading at around $61,400 on June 10 after not being able to stay above the $64,000 mark, according to a tweet update posted by crypto expert Michaël van de Poppe on X.

The cryptocurrency experienced a pullback from lower price points but was met with resistance before it was able to regain its previous trading range. At the moment, there are two critical price points where Bitcoin will make a move.

Van de Poppe presented a bullish scenario for Bitcoin if either of two key situations happens – liquidity is swept in Bitcoin above the $59,000 level or Bitcoin manages to break above $64,000-$65,000.

Bitcoin Encounters Resistance After Rebound

In its last effort to recover, the digital currency failed to move beyond the $64,000 mark after buyers moved the crypto asset away from the low levels. According to the price action graph shared by Van de Poppe, the coin bounced off a level close to $59,000 before hitting resistance.

According to the trader, Bitcoin “bounced off the sweep of the lows,” but it encountered a quick reversal at resistance. Therefore, he says that the current price action does not offer a good opportunity for a trade setup based on his strategy since the market is now caught between two levels.

Analyst Identifies Two Bullish Scenarios

Van de Poppe identified two conditions where a long trade can be made. Firstly, this includes a retest of the $59,000 level, sweeping out liquidity at lower levels, before retaking the level. It is normal practice among traders to watch out for indications of fresh buying pressure in response to the activation of stop losses.

The other condition entails a return of BTC to the $64,000-$65,000 range. This will mean Bitcoin returns to the trading range that it was previously in, according to Van de Poppe.

Key Levels Remain in Focus

The two areas indicated on the chart are resistance zones for Bitcoin, which have to be broken before any bullishness can emerge in the asset. Presently, the asset is trading under both levels, making the sellers dominant in the short term.

On the other hand, the area near $59,000 serves as an important support level for Bitcoin. This level has been termed a "low to sweep" on the chart, implying that if the asset falls further, it will likely attract more liquidity at that point.

Market Awaits Confirmation

However, Bitcoin is stuck in an area that is sandwiched between support and resistance, as investors search for signs that will determine the direction of the trend.

At present, the expert's prediction is dependent on price behavior at the specified support and resistance zones. As long as none of these areas breaks through, Bitcoin continues to hover in an uncertain area.