Bitcoin Breaks Down From Symmetrical Triangle — Retest in Progress
On the daily timeframe shown, Bitcoin is currently trading around $67,611. Price has broken down from a symmetrical triangle structure and is now in the retest phase of that breakdown zone.
We can see that $BTC rejected from the previous high near $97,932 and sold off aggressively, dropping to a low around $59,800. After that sharp move, price bounced and is now consolidating between roughly $66,500–$68,000, which appears to be the retest area of the broken support.
If this retest is successful (meaning BTC fails to reclaim the broken structure and gets rejected below $68,000–$70,000), it could confirm the bearish breakdown. In that case, we may see another strong leg down, potentially revisiting $59,800 and even extending toward lower support levels.
However, if BTC manages to push back above $70,000 and hold, the breakdown could turn into a false move.
Right now, all eyes are on the $67K–$70K zone. The reaction here will likely decide whether the next move is a heavy dump or a recovery attempt.