Current price is around $76,747. BTC rejected near the $81,000 to $83,000 zone, which also matches the upper trendline resistance. Now price is coming back toward the important demand area around $73,000 to $75,000.
This zone is important because if bulls defend it, BTC can still bounce from here and try to reclaim $79,000 to $84,000 again. A strong reclaim above $84,000 would make the structure look much better and open the way toward $89,000 to $97,000.
But if we don’t see bullish power from the $73k to $75k area, then BTC can drop toward $69,000 to $66,000. That would still be a normal deeper correction as long as price reacts strongly from there.
The worst-case scenario is different. If BTC loses $66,000, breaks the major rising support, and the whole market turns risk-off, then we could see a panic wick much lower, possibly even below $50,000. I’m not saying that is the main scenario, but it is the level to keep in mind if all supports fail.
For now, the key is simple: BTC needs to show bullish reaction between $73k and $75k. If not, the correction can continue deeper before the next real upside move.
This zone is important because if bulls defend it, BTC can still bounce from here and try to reclaim $79,000 to $84,000 again. A strong reclaim above $84,000 would make the structure look much better and open the way toward $89,000 to $97,000.
But if we don’t see bullish power from the $73k to $75k area, then BTC can drop toward $69,000 to $66,000. That would still be a normal deeper correction as long as price reacts strongly from there.
The worst-case scenario is different. If BTC loses $66,000, breaks the major rising support, and the whole market turns risk-off, then we could see a panic wick much lower, possibly even below $50,000. I’m not saying that is the main scenario, but it is the level to keep in mind if all supports fail.
For now, the key is simple: BTC needs to show bullish reaction between $73k and $75k. If not, the correction can continue deeper before the next real upside move.
Market Structure • Price Action • Crypto Updates
🔗 Telegram: t.me/Coach
🔗 Telegram: t.me/Coach
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.
Market Structure • Price Action • Crypto Updates
🔗 Telegram: t.me/Coach
🔗 Telegram: t.me/Coach
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.