Bitcoin Gives Back Most Of Yesterday's RallyBitcoin / TetherUSBINANCE:BTCUSDTDukesMarketAnalysisYesterday's Rally Loses Momentum • Bitcoin rallied strongly yesterday, breaking above the $66,000 resistance zone and reaching a high of $67,292. • However, sellers gradually took control, erasing much of those gains before today's session began. $66,000 Continues To Hold • Despite the rejection from the highs, buyers have once again defended the $66,000 region. • The repeated buying interest suggests this former resistance is beginning to establish itself as an important support level. Resistance Still Capping Price • The area around $66,420 continues to act as the immediate hurdle for the bulls. • A sustained move above this level would improve the short-term outlook and bring yesterday's highs back into focus. Momentum Favouring The Bulls... For Now • RSI has recovered comfortably above the 50 level, suggesting buyers still hold a slight momentum advantage. • While encouraging, the indicator is not yet showing the strength typically associated with a convincing breakout. Volume Offers Little Conviction • Trading volume has remained fairly neutral throughout the latest consolidation. • Without stronger buying participation, any breakout attempt could struggle to gather lasting momentum. The Next Break Could Be Important • Bitcoin is now compressing between clearly defined support and resistance after yesterday's failed rally. • A break above resistance could quickly reignite bullish momentum, while losing the $66,000 area would hand control back to the bears. In Summary Bitcoin produced an impressive rally yesterday, but ultimately gave back most of those gains as sellers stepped back into the market. Even so, bulls deserve some credit for continuing to defend the important $66,000 support zone after its recent breakout. Momentum has improved, but volume remains relatively uninspiring and resistance still lies just overhead. With price becoming increasingly compressed inside a well-defined range, the next decisive move is likely to determine Bitcoin's short-term direction.