Bitcoin is starting to look weak after multiple failed attempts near the 79K–80K resistance zone. Every bounce is getting sold fast, and buyers are no longer showing the same strength we saw during the rally. The market tried several times to reclaim higher levels, but there’s still no clean acceptance above resistance.
Now the important part is the structure around 76–77K. Price is slowly slipping below support, and the reactions are getting weaker on every bounce. This usually happens before a larger move expands. Instead of continuation, Bitcoin is starting to shift into a corrective phase with lower highs forming across the chart.
As long as price stays below the resistance zone, the downside pressure remains active. The next major area to watch is around 70.5K–69k, which looks like the real make-or-break zone for the next big move. If sellers stay in control, Bitcoin can easily slide toward that region faster than most expect.
Right now this doesn’t look like strong accumulation. It looks more like distribution at highs before a deeper move. Bulls only regain control if Bitcoin reclaims and holds above the resistance zone with strength. Until then, rallies may continue getting faded. Trade safe.
Bias: Bearish below 79K
Invalidation: Strong breakout above 80K
Major Support: 70.5K – 69k
Watch Zone: 76.5K structure area …
Now the important part is the structure around 76–77K. Price is slowly slipping below support, and the reactions are getting weaker on every bounce. This usually happens before a larger move expands. Instead of continuation, Bitcoin is starting to shift into a corrective phase with lower highs forming across the chart.
As long as price stays below the resistance zone, the downside pressure remains active. The next major area to watch is around 70.5K–69k, which looks like the real make-or-break zone for the next big move. If sellers stay in control, Bitcoin can easily slide toward that region faster than most expect.
Right now this doesn’t look like strong accumulation. It looks more like distribution at highs before a deeper move. Bulls only regain control if Bitcoin reclaims and holds above the resistance zone with strength. Until then, rallies may continue getting faded. Trade safe.
Bias: Bearish below 79K
Invalidation: Strong breakout above 80K
Major Support: 70.5K – 69k
Watch Zone: 76.5K structure area …
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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.