$MYX đ What the chart is showing
Price previously dropped sharply from around 63K â 59K area
Now itâs recovering but struggling below resistance (~60.7K)
Youâve marked a clear range:
Range high: ~60,724
Range low: ~58,030
Current price (~60.2K) is sitting in the middle-upper part of the range
There are FVG (fair value gap) zones above and below, showing inefficiency areas price may revisit
đ Current trend structure
Short-term: sideways / bearish bias
Market is making lower highs after the drop from 63K$AGLD
Repeated rejection near 60.7K (daily high / resistance)
Momentum is weakening as price fails to break higher convincingly
đŻ Most likely scenarios
1. Bearish continuation (more likely in this structure)
Rejection from 60.7K â price drops back
Target: 59.8K â 58.8K â 58.0K (range low)
2. Range continuation
Price keeps chopping between:
58K support
60.7K resistance
No breakout = sideways accumulation
3. Bullish reversal (needs confirmation)
Only if price breaks and holds above 60.7K
Then we could see move toward 61.5Kâ62K FVG zone
đ§ Simple conclusion
Right now the market is:
âBearish correction inside a range, waiting for liquidity at support or breakout above resistance.â$BTC
Price previously dropped sharply from around 63K â 59K area
Now itâs recovering but struggling below resistance (~60.7K)
Youâve marked a clear range:
Range high: ~60,724
Range low: ~58,030
Current price (~60.2K) is sitting in the middle-upper part of the range
There are FVG (fair value gap) zones above and below, showing inefficiency areas price may revisit
đ Current trend structure
Short-term: sideways / bearish bias
Market is making lower highs after the drop from 63K$AGLD
Repeated rejection near 60.7K (daily high / resistance)
Momentum is weakening as price fails to break higher convincingly
đŻ Most likely scenarios
1. Bearish continuation (more likely in this structure)
Rejection from 60.7K â price drops back
Target: 59.8K â 58.8K â 58.0K (range low)
2. Range continuation
Price keeps chopping between:
58K support
60.7K resistance
No breakout = sideways accumulation
3. Bullish reversal (needs confirmation)
Only if price breaks and holds above 60.7K
Then we could see move toward 61.5Kâ62K FVG zone
đ§ Simple conclusion
Right now the market is:
âBearish correction inside a range, waiting for liquidity at support or breakout above resistance.â$BTC
