Bitcoin (BTC) ended last week above $74,400, prompting analysis that it maintained a medium- to long-term bullish structure. Analyst Psychedelic assessed the level as an important benchmark in bitcoin's higher time frame structure.

The Crypto Basic, a blockchain outlet, reported on Sunday that bitcoin ended last week at $77,020. It fell as low as $74,156 during the week but later rebounded.

Psychedelic interpreted the drop as a retest of a key support zone. He said $74,400 is the central price area in bitcoin's recent market structure. He saw the weekly close above the line as a signal that the higher time frame bullish trend remains valid.

The importance of the level also reflects the previous uptrend. The analysis said there have been cases in which bitcoin posted a sharp rise after holding above the bull market support zone. In November 2025, bitcoin held the zone and then surged to $108,000 from around $62,000 on Dec. 6.

Market attention is focused on short-term moves this week and the direction for June. Psychedelic said bitcoin could show another brief decline this week. He said it could temporarily slip to around $74,400 or below. He said such a move could act as a liquidity sweep that shakes out weak buying, draws aggressive downside bets and then allows a quick rebound if support holds.

That could set up a stronger rise in June, the outlook said. Psychedelic said bitcoin could move to a higher price range in June if a liquidity cleanout and a technical bullish structure align. He cited a top-side target in the $90,000 range. That would imply more than 16 percent additional upside versus the current $77,000 range. The view also aligns with XWIN Research, which has pointed to the importance of the $93,000 area.

He also offered a view on a macro bottom. Psychedelic said, "The macro bottom has already formed." Other market analysts have voiced similar views, including that bitcoin bottomed at $60,000 in February. Bitcoin broke below $74,400, its 2025 yearly low, early this year and slid to $60,000, then rebounded to regain the 2025 low. It rose as high as $82,800 early this month, creating a signal of a structural shift.

Technical indicators are also showing some signs of stabilisation. The relative strength index (RSI) is holding near 50 and remains above its RSI moving average. The RSI is at 46.15, far from an overheated zone, allowing an interpretation that there is room for further gains. The moving average convergence divergence (MACD) histogram has also kept green bars through a recent brief correction, showing bullish momentum has not fully broken.

Trading participation is not yet providing strong support. Trading volume in the past 24 hours fell 13 percent, and there remains a possibility that short-term volatility could increase if bitcoin retests the $74,400 support line. Market focus is on whether there will be a pullback this week and whether an attempt to regain the $90,000 range in June will materialise.

We will close this week above $74,400. Within the Bull market support band and above HTF bullish strcuture. This will end up being a retest of the BOS that came from reclaiming that 2025 yearly low. We will then very likely get some low stabs next week, potentially below… https://t.co/3165xAo8dh pic.twitter.com/MkAUADxZ2p