#BTC
Price was previously trading inside a rising channel, respecting higher highs and higher lows. However, a decisive Break of Structure (BOS) occurred near the 88–90K region, followed by a Change of Character (ChoCH), signaling the transition from bullish continuation to bearish control. The rejection from the upper supply zone confirmed institutional selling pressure.
The aggressive sell-off that followed created a strong displacement move, breaking multiple liquidity pools on the way down. This impulsive leg suggests smart money distribution at the top before the drop. The major liquidity sweep near 64K formed a temporary bottom, marked as a weak low due to the sharp reaction and high volume spike.
Currently, price is consolidating between 66K–70K, forming lower highs beneath a strong 70–72K supply zone. The ascending minor trendline shows short-term bullish retracement, but momentum appears corrective rather than impulsive. RSI remains neutral, lacking strong bullish divergence.
Key levels to watch:
• Resistance: 70–72K (strong supply), 76K (major imbalance zone)
• Support: 64K (liquidity low), 60K psychological zone
If price fails to reclaim 72K with strong volume, continuation toward 64K liquidity is probable. However, a sustained breakout above 72K could invalidate short-term bearish bias and trigger a move toward 76K imbalance fill.
Overall bias: Bearish to neutral unless structure flips above major supply.
Risk management remains critical in this volatile range.