Bitcoin
Short

BTCUSD Daily Chart Analysis: Bearish Retest Below Major Support

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Market Structure

This BTCUSD 1D chart shows a clear bearish market structure shift:

The previous support around $80,000 was broken earlier (marked as BOS – Break of Structure).
After the breakdown, price formed a lower high and failed to reclaim previous resistance.
The recent selloff pushed BTC below the important $64,000–$66,000 support zone (highlighted in pink).
Key Technical Observations

✅ Support Turned Resistance

The black horizontal level around $66,130 acted as support multiple times.
Price has now broken below it, making it a potential resistance area.

✅ Bearish Retest Setup

The drawn projection suggests a pullback toward the broken zone.
If sellers defend the $64K–$66K area, the retest could trigger another leg down.

✅ Moving Average Pressure

Price is trading below the red moving average.
The moving average is sloping downward, confirming bearish momentum.
Bearish Scenario (Higher Probability Based on Current Structure)
Price retests $64K–$66K.
Rejection from resistance.
Continuation toward lower liquidity zones.

Potential downside targets:

$58,000
$55,000
$52,000
$50,000 psychological level
Invalidation

The bearish outlook weakens if:

BTC closes back above $66,130.
Buyers reclaim the resistance zone and hold it as support.
A higher high forms above the recent swing high near $81,000.
Trading Bias

Current Bias: Bearish 📉

As long as BTC remains below the $64K–$66K supply/resistance zone, sellers appear to control the market and further downside remains likely.

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