$BTC /USDT on the 1D timeframe is still in a clear downtrend after rejecting near the 97,900 level and cascading lower with a series of strong bearish candles. The chart shows a sharp sell-off toward the 60,000 psychological support, followed by a bounce back to the 67,800–68,000 area. However, price remains below previous support zones that may now act as resistance, and the Parabolic SAR dots are still positioned above recent candles, signaling that the broader trend pressure remains bearish. Volume spiked heavily during the drop, indicating strong selling momentum, while the recent recovery appears comparatively weaker.

In the short term, 60,000 stands out as a key support level—losing this zone could open the door toward the 58,000 area or lower. On the upside, BTC needs to reclaim and hold above 70,000–74,000 to signal stronger bullish recovery potential. Until a higher high and higher low structure forms on the daily chart, rallies may face selling pressure. Traders should watch volume behavior and price reaction around resistance levels to confirm whether this is a relief bounce or the start of a trend reversal.