BTCUSDT – 1D Chart Update
BTC has broken down from the rising channel and confirmed a strong bearish move. The trend is clearly a downtrend on the daily timeframe.
Current Price: ~67.6K
Major Support: 72K–74K (now acting as resistance after breakdown)
Strong Demand Zone: 58K–60K
Immediate Resistance: 70K–72K
After a sharp -30% drop, the price is attempting a small bounce but still trading below the daily MA and breakdown level. Structure remains weak unless BTC reclaims 72K+ with a strong daily close.
Rejection from 70K–72K → continuation toward 60K zone.
Strong reclaim above 72K → short-term relief rally toward 78K–80K.
⚠️ Momentum is still bearish. Wait for confirmation before aggressive longs.
BTC has broken down from the rising channel and confirmed a strong bearish move. The trend is clearly a downtrend on the daily timeframe.
Current Price: ~67.6K
Major Support: 72K–74K (now acting as resistance after breakdown)
Strong Demand Zone: 58K–60K
Immediate Resistance: 70K–72K
After a sharp -30% drop, the price is attempting a small bounce but still trading below the daily MA and breakdown level. Structure remains weak unless BTC reclaims 72K+ with a strong daily close.
Rejection from 70K–72K → continuation toward 60K zone.
Strong reclaim above 72K → short-term relief rally toward 78K–80K.
⚠️ Momentum is still bearish. Wait for confirmation before aggressive longs.
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Related publications
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.