Bitcoin has returned to one of the most important structural areas of the entire 2024 to 2026 move.

> 2021 all time high near $64,000 is no longer simply an old resistance level. After Bitcoin expanded toward $126,000 and then entered a prolonged correction, price has come back to test that former cycle ceiling from above.

,changes the meaning of the current region. In 2021, $64,000 represented the end of an expansion. In 2026, the same area is being tested as the foundation of a much larger structure.

The correction from $126,000 has developed inside a clear descending structure. Each rebound has been sold, momentum has weakened and the market has spent months removing the excess created during the previous expansion. But despite the depth of that decline, Bitcoin has not returned to the 2022 cycle base. It has corrected back toward the previous cycle high.

distinction matters. market has already moved through one complete repricing phase. The current question is whether the old ceiling can now function as the floor for the next one.
this area between roughly $55,000 and $65,000 is therefore much more important than any individual weekly candle. This zone combines the 2021 ATH, the lower side of the current descending structure and the broader long term rising base visible on the chart.

Price is now compressing directly inside that intersection.

This is also why trying to identify one perfect bottom price becomes less useful here. Bitcoin can move around this region, briefly trade below the old ATH or spend more time rebuilding without changing the larger structural idea. important development is the transformation of market structure. Previous resistance is being tested as support. major expansion has been followed by a major reset.

The reset is now reaching the lower boundary of the larger trend.

The forward path drawn on the chart reflects how I currently read the next phase. I do not expect a straight vertical move. A larger repricing can develop through repeated expansions, corrections and higher structural ranges while the long term trend continues to advance. first important reference remains the previous $126,000 high. But if Bitcoin eventually leaves this base and establishes itself above that region again, the market would no longer be dealing with recovery.

It would be entering a new price discovery phase.
That is the larger point of this chart.
Bitcoin does not need to revisit the 2022 lows to complete another major reset.

The previous cycle top itself may now be doing the job.