BTCUSD Bitcoin is currently showing signs of short-term weakness after facing rejection near the upper resistance zone around $80,000–81,000. The recent weekly candles indicate slowing bullish momentum, while price is struggling to sustain above the breakout region.The chart structure suggests a possible corrective phase beginning from the first week of June, especially if sellers continue defending the current resistance zone. The rising trendline support remains intact for now, but a breakdown below the short-term demand area could trigger deeper downside movement.
Current Market Structure
Price is trading inside a critical decision zone after a strong recovery rally from lower levels. Recent rejection candles near resistance indicate profit booking and reduced buying strength.
Expected Scenario
A corrective move toward the major weekly support/reversal zone around $63,300–65,500 is possible if bearish momentum increases during the coming weeks.
This region is important because:
* Previous accumulation occurred near this zone
* Higher timeframe support is present
* Trendline confluence strengthens reversal probability
* Buyers may re-enter aggressively from this area
Technical Observations
Weekly RSI is losing momentum near the mid-zone, indicating weakening bullish strength.
Volume participation has reduced during the recent upward move, suggesting possible exhaustion.
Price is currently attempting to hold above short-term support near $75,000–76,000. A breakdown below this region may accelerate selling pressure.
Bullish Invalidation
The bearish correction scenario may weaken if Bitcoin reclaims and sustains above the $81,000 resistance zone with strong weekly closing and rising volume.
Conclusion
Bitcoin remains bullish on the larger timeframe, but short-term price action suggests the possibility of a healthy correction before continuation. The $63,300–65,500 zone remains the key area to watch for potential support and reversal opportunities.
Disclaimer: This analysis is for educational purposes only and not financial advice. Always manage risk properly before taking any trade.
Trade closed: target reached
🤩🤩🤩 SELL Target ACHIEVED 🤩🤩🤩Now lets Wait for BULL Trend from the Support Level 65479-63313.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.