BTC/USD โ Bearish Trend & Potential Bullish Recovery ๐๐
Bitcoin continues to trade within a descending channel, maintaining a bearish overall structure. Price is currently consolidating around 75,796, showing indecision after the recent strong selling pressure.
๐น Key Support: 74,895 โ Daily support zone where buyers may step in.
๐น Consolidation Zone: 75,200โ76,400 โ Price is ranging within this area, and a breakout could determine the next short-term move.
๐น Resistance: 81,907 โ Major resistance level that needs to be reclaimed to strengthen the bullish outlook.
๐น Order Block: 80,200โ81,000 โ Potential supply zone where selling pressure could emerge.
๐ Market Outlook:
My focus is on a possible liquidity sweep below the consolidation range toward the daily support around 74,895. If buyers defend this level and bullish confirmation appears, BTC could recover toward 78,000โ78,500.
However, a confirmed breakdown below daily support would weaken the recovery scenario and could open the door to further downside.
๐ฏ Key Levels to Watch:
Support: 74,895
Near Resistance: 76,400
Upside Target: 78,000โ78,500
Major Resistance: 81,907
โ ๏ธ Confirmation is key. Iโll be watching the reaction around daily support and the consolidation breakout before considering the next directional move.
