Bitcoin Orderbook Structure Hints At Recovery To $70K

Bitcoin has drawn renewed buying interest after hitting a yearly low of $59,000 last week. Order-book data and liquidity point to a pending rally, with more than $2 billion in short liquidity clustered near $65,000. The bid-ask ratio has stayed positive since last Friday, and the shift in positioning and sentiment matches a bullish chart target in the $67,000–$70,000 range.

The recent rebound to $63,500 followed a bullish divergence between price and the four-hour relative strength index: price printed a lower low during the early-June sell-off while the RSI formed a higher low, signaling fading downside momentum before buyers stepped back in.

Bitcoin is trading inside an ascending triangle. A confirmed breakout could aim for the daily fair-value gap between $67,500 and $70,500, an area of trading imbalance left by the correction. Hyblock data shows the bid-ask ratio at 0.05 after the yearly low, suggesting buy-side market orders have slightly outpaced sell-side orders.

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