Hi!
Bitcoin has shifted into a clear bearish market structure after breaking the long-term ascending trendline and losing the key horizontal support zone. Price is now trading inside a descending channel, confirming downside momentum.
The recent breakdown below the 68K support area turned previous support into resistance, increasing the probability of continuation toward lower liquidity zones.
Market Structure
Bearish Scenario (Primary Bias)
If the price continues to respect the channel resistance, further downside is likely.
Target Zones:
Important Context – Monthly Support
This setup comes with reduced statistical confidence because the price is approaching a higher timeframe (monthly) support region.
That means:
Downside continuation is possible
But sharp bounces can happen unexpectedly
Overall win rate of this bearish continuation idea could be lower than usual due to higher timeframe demand presence
Bitcoin has shifted into a clear bearish market structure after breaking the long-term ascending trendline and losing the key horizontal support zone. Price is now trading inside a descending channel, confirming downside momentum.
The recent breakdown below the 68K support area turned previous support into resistance, increasing the probability of continuation toward lower liquidity zones.
Market Structure
- Broken ascending macro trendline
- Lost major horizontal support
- Clean rejection from broken support → resistance flip
- Price respecting bearish channel boundaries
Bearish Scenario (Primary Bias)
If the price continues to respect the channel resistance, further downside is likely.
Target Zones:
- Target 1: 60,000 – 58,000
- Target 2: 55,000 – 53,500
Important Context – Monthly Support
This setup comes with reduced statistical confidence because the price is approaching a higher timeframe (monthly) support region.
That means:
Downside continuation is possible
But sharp bounces can happen unexpectedly
Overall win rate of this bearish continuation idea could be lower than usual due to higher timeframe demand presence
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avatrade.com/trading-account?p=Webtrader&tag=220256
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🔴 Forex channel: t.me/melikatrader94GoldForex
İlgili yayınlar
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, alım satım veya diğer türden tavsiye veya öneriler anlamına gelmez ve teşkil etmez. Kullanım Koşulları bölümünde daha fazlasını okuyun.
📊 AVATrade Ambassador Join & explore:
avatrade.com/trading-account?p=Webtrader&tag=220256
-----------------
🟢 Telegram channel: t.me/melikatrader94
🔴 Forex channel: t.me/melikatrader94GoldForex
avatrade.com/trading-account?p=Webtrader&tag=220256
-----------------
🟢 Telegram channel: t.me/melikatrader94
🔴 Forex channel: t.me/melikatrader94GoldForex
İlgili yayınlar
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, alım satım veya diğer türden tavsiye veya öneriler anlamına gelmez ve teşkil etmez. Kullanım Koşulları bölümünde daha fazlasını okuyun.