FX.co ★ #Bitcoin chart analysis

Hello traders, esteemed colleagues at InvestSocial! BITCOIN — correction after an impulsive decline and preparation for a downside breakout 1. Timeframe and context The analysis is conducted on the hourly timeframe (H1), allowing to identify intraday impulses and liquidity accumulation zones. After reaching local highs around 78600–78800, bitcoin experienced a sharp impulsive drop downwards with a series of long red candles, breaking through the nearest supports. Currently, the price has entered a limited upward correction phase — a classic breather after a strong decline, where liquidity is attracted and zones for further movement are formed. 2. Market structure: Local bearish trend Currently, a local bearish trend persists, confirmed by: * Lower highs and lows after reaching the recent peak * Limited upward corrections that do not surpass previous peaks * Clear selling pressure — weak green candles with low volume, quickly absorbed All these signs indicate that sellers control the market, while buyers struggle to initiate a confident price return to higher levels. 3. Liquidity and levels During the impulsive decline and current correction, support levels have formed below, where liquidity has accumulated. These zones serve as key points for analyzing potential movements: * Liquidity gathers at the bottom, signaling a possible downside breakout * These levels temporarily support the price but do not generate enough demand for its rise We expect that approaching these levels will trigger position accumulation and active selling, both in the market and in the order book. 4. Projected movement: Downside breakout An impulsive downside breakout is projected: * With liquidity accumulation near the support level, the market may test the lower boundary * After triggering stop-loss orders and further volatility expansion, the price may continue to decline * We anticipate a continuation of the bearish movement with a possible break below current lows 5. Movement targets (Take Profit) TP1 — 77000 * Nearest zone of recent lows and accumulation of buyers' stop-losses * First significant support area, where a brief consolidation or partial closure of short positions is possible * It is recommended to secure 30–40% of the volume to reduce risk TP2 — 76500 * Next key liquidity area with previous local lows * Increased selling pressure is expected upon breakout, with a potential accelerated downward impulse * Suitable for closing another 30–40% of the position, leaving the remainder on a trailing stop or for the final target TP3 — 76000 * Final target of the current bearish impulse — a zone of strong technical support with high liquidity volume * Potential end of the downward wave with a possible reversal formation or prolonged consolidation * Complete closure of the remaining volume or moving to breakeven with partial closure 6. Risks and scenario cancellation conditions The scenario will be canceled if: * Price consolidates above 78500–78600, indicating a possible reversal * Formation of a new ascending structure that overrides the current bearish trend 7. Final summary * Trend: locally bearish * Correction: continuation of the decline with accumulation near levels * Liquidity: concentrated at support, possible impulsive downside breakout * Targets: reaching levels 77000, 76500, and 76000 with step-by-step closure An important point — operate within the current local bearish trend, strictly adhere to risk management, and secure profits as targets are reached. Trade thoughtfully!