FX.co ★ #Bitcoin chart analysis

I see Bitcoin pressing into a technically sensitive zone where short-term structure and higher-timeframe pressure are colliding, and I interpret the M15 support at 65,400 as the first battlefield that will decide whether the market attempts another relief rally or commits to a deeper continuation south. I note that price action is repeatedly trying to pull back toward this intraday floor, and I read this behavior as a market searching for liquidity before the next directional move. I expect that if this M15 support holds and sellers fail to produce a decisive breakdown, the market will attempt another push upward toward the H1 resistance near 73,250–73,500, where I anticipate heavy reaction again. I believe this H1 zone is not just resistance but a psychological midpoint of the current corrective structure, and I see it as a magnet for price before the next rejection. I anticipate that if this area rejects price once more without a breakout, the probability of a deeper reversal toward 56,250 increases significantly. I consider a clean break below 65,400 as early confirmation that the market is ready to resume the broader southward leg, targeting the major liquidity pool around 56,250 where I would expect buyers to reappear. I recognize that a breakout above 73,500 would invalidate this immediate bearish continuation and open the path toward the H4 resistance at 81,250, where I would again anticipate strong selling pressure unless the breakout is impulsive and supported by volume. I understand that only a confirmed breakout of 81,250 would signal a much larger corrective move toward the D1 resistance around 106,000, which I still see as distant and conditional. I observe that the current “middle” of the market around 72,900–75,000 is still being formed, and I interpret this zone as preparation for a larger expansion before the market returns to work the lower boundary near 58,500 again. I believe the channel structure will continue to be respected from above for a long time, and I do not yet see evidence of a collapse below 58,500.

I recognize on the hourly chart that an imbalance has formed which, in my view, is subtly pulling price downward despite the visible sideways movement, and I interpret this as hidden weakness rather than neutrality. I expect that if the current or next hourly candle closes decisively bearish, preferably with a pronounced upper shadow or an engulfing structure, the market will accelerate toward the red support zone near 65,000. I believe that if price is instead pulled above the gray zone toward 70,000, this would temporarily negate the immediate bearish pressure and allow the market to revisit the upper resistance structure again. I recall that the weekly chart already broke the long-standing ascending channel that held price from spring 2023 to January 2026, and I interpret the vertical fall from 126K to 60K as structural damage that has not yet been fully corrected. I expect a retest of 60,000 because I view the recent rebound to 68,900 as a corrective bounce rather than a trend reversal. I analyze the H4 descending channel formed since the rejection near 90,000, and I see the current movement as a continuation pattern inside this bearish structure. I consider the zone around 69,000 a technically favorable region for short positioning with profit targets near 60,000–61,000. I observe that BTCUSD is trading below the daily open at 70,563 and below the weekly and monthly pivots, and I interpret this alignment as corrective sentiment rather than bullish recovery. I note that the price hovering near the MA72 suggests volume unloading, and I expect a move first toward 67,286 and then a possible corrective push toward 71,746 before the broader decline resumes.