Bitcoin: Is a 3rd Lower High Forming?Bitcoin / TetherUSBINANCE:BTCUSDTDukesMarketAnalysisShort-Term Bounce Bitcoin has bounced strongly from the $61,544 low, with a bullish 4-hour candle reclaiming the short-term $62,483 area. This puts the bulls back in control of the immediate price action. Successive Lower Highs? Despite the bounce, Bitcoin could be in the process of forming a third successive lower high. Another rejection below the recent $64,243 high would keep this short-term bearish structure firmly in focus. Fib Resistance Remains The 0.618 at $63,666 remains the first hurdle for the bulls, followed by the 0.786 at $65,261. A clear break above these levels would go a long way towards weakening the lower-high argument. Momentum Improving The RSI is back around 50, while the StochRSI has crossed higher, showing improving short-term momentum. However, with the StochRSI already moving into overbought territory, there is still reason for some caution. In Summary Short-term price action remains bullish after Bitcoin reclaimed $62,483, but the potential formation of a third successive lower high can't be ignored. The bulls still need to get above the 0.618 at $63,666, with the 0.786 at $65,261 waiting beyond. Until then, I'm keeping a close eye on whether this bounce has enough strength to break the developing lower-high structure.