Hey traders, what’s up? I’ve been staring at these charts nonstop today and $BTC just made a sneaky move that’s got me seriously rethinking my setups. Right now $BTC has broken cleanly below that micro support level we’ve all been watching. The one that was holding everything together like glue in this messy choppy range. This isn’t some random wick or tiny dip. It’s seriously ramping up the probability for what I’ve been labeling the yellow scenario. That bearish path where we get some real sustained downside pressure if things don’t turn around fast.
Let me lay it out clearly. We’ve been stuck in this sideways grind for a while with bulls and bears slugging it out. But this break feels different. Volume spiked on the drop and the momentum indicators are starting to scream caution. RSI is sliding into oversold on the shorter timeframes but don’t jump the gun thinking instant bounce. This could easily be the opening act of a deeper pullback. On my charts I’ve sketched out that yellow path showing a possible slide toward 60K or even lower if support keeps crumbling. Maybe retesting those lows from last month. It’s still speculative sure but the fib levels and how price is reacting to the EMAs are making it look more likely with every passing candle.
The big thing to watch now is 68,724. That level has flipped hard. It was acting as support before but after this decisive break it becomes key resistance. For the downside structure to stay valid and keep playing out Bitcoin has to stay below that number. No ifs or buts. If we see a strong reclaim with solid closes and real volume pushing back above it the entire bearish case gets wrecked and we could be staring at a classic fakeout that sends us ripping toward new highs instead. But as things stand right now the path of least resistance looks clearly to the downside. I’m glued to the order flow and there’s some buy walls trying to form around 65K but if sellers smash through those it’s lights out for the bulls short term.