Bitcoin Rallies Toward $67K While Analysts Highlight Critical Support at 200 MA

Jakarta, Pintu News – The current Bitcoin price drop has market participants paying close attention to two key technical levels. The first focus is on the short-term support zone around $62,600.

If the selling pressure continues, the next downside target is predicted to be stuck at the weekly 200 Moving Average (MA) at $58,366. Technical analysts warn that if Bitcoin fails to survive the current correction zone, the price weakness could potentially extend deeper before a significantrebound attempt.

Then, how will the Bitcoin price move today?

Bitcoin Price within 24 Hours

On February 20, 2026, Bitcoin (BTC) was trading at $67,235, equivalent to approximately IDR 1,139,644,136, marking a modest 0.43% gain over the last 24 hours. Throughout the session, the cryptocurrency fluctuated between a daily low of IDR 1,116,399,305 and a peak of IDR 1,141,802,275.

At the time of reporting, Bitcoin’s market capitalization remains robust at roughly IDR 22,750 trillion, even as 24-hour trading volume dipped 2% to IDR 583.55 trillion.

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Bitcoin approaches critical $58,000 level, analysts monitor 200 MA support

Bitcoin price continues to slide near the long-term support zone after correcting sharply from its peak in late 2025. Currently, market participants are paying close attention to the 200-week Moving Average (MA) indicator at $58,366.

Technical analyst “Man of Bitcoin” through his post on X mentioned that this level is very crucial because it coincides with the 38.2% Fibonacci Retracement zone at $56,806. This area is considered a major stronghold for traders after the previous big uptrend.

If BTC fails to hold in the $57,000 – $58,000 zone, the decline is predicted to extend to the next retracement level in the range of $44,386 (50%) to $34,681 (61.8%). On the contrary, the long-term recovery target is still observed at the optimistic level around $126,445. For now, the $58,000 region is the first technical test that determines the direction of Bitcoin’s next weekly move.

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Bitcoin tests critical support level of $66,000, ‘bullish’ structure in danger of breaking down

Bitcoin (BTC) price is observed to enter a congested Fibonacci retracement zone on the 15-minute chart, triggering fears of invalidating the short-term upside structure. BTC is currently testing the 78.6% retracement level around $66,257, which coincides with a local consolidation zone.

Analysts from More Crypto Online in a post on X warned that if the weakness continues below this zone, the 1-2 setup structure will be consideredinvalidated. If such a scenario occurs, the market will most likely move into a longer wave B development phase, instead of continuing the clean impulsive uptrend.

Based on technical analysis, if BTC fails to hold, the next downside targets are at $64,559 (61.8% level) to $62,604. The $62,604 level becomes the last bastion of defense as it aligns with the lower limit of the 78.6% retracement of the broader price movement. Meanwhile, the resistance zone above is still firmly held at the previous consolidation area.

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities are subject to high risk and volatility, always do your own research and use cold hard cash before investing. All activities of buying and selling Bitcoin and other crypto asset investments are the responsibility of the reader.

Reference:

• Coinpaper. BTC Price Prediction as $58K 200-Week MA Nears Test. Accessed on February 20, 2026