BTCUSD | Daily Technical Outlook
Market Structure
BTCUSD remains under sustained bearish pressure across higher timeframes, despite a short-term stabilization attempt. The broader structure continues to reflect a well-defined downtrend, with price trading below key moving averages and failing to reclaim prior breakdown levels.
Recent buying interest has emerged near the $69,000 area, leading to a modest rebound, but the recovery lacks strong bullish follow-through and still appears corrective within the larger bearish trend.
Key Resistance Zone
The immediate resistance zone is located at $70,500 – $71,500, where previous support has now turned into supply. This area aligns with short-term moving averages and recent rejection points.
Additional resistance levels include:
- $73,000
- $75,000 – $76,000 (major structural resistance)
As long as BTC trades below $71,500, upside moves are likely to be capped.
Key Support Zone
Primary support is holding near $68,500 – $69,000, where buyers have recently defended price and triggered a bounce.
A clean break below this zone would expose lower downside targets at:
- $66,000
- $63,500 – $64,000 (major daily support zone)
Failure to hold above $64,000 would signal a continuation of the broader bearish cycle.
Expectations
Bearish Scenario (Primary)
The dominant trend remains bearish while price trades below $71,500.
A rejection from resistance could send BTC back toward $69,000, with a breakdown opening the door toward $66,000 and potentially $64,000.
Bullish Scenario (Alternative)
A sustained break and hold above $71,500 would improve short-term sentiment and allow a corrective push toward:
- $73,000
- $75,000
However, bullish momentum would remain corrective unless price reclaims the $76,000 area.
Outlook
Bitcoin is attempting to stabilize after a sharp decline, but the overall structure remains bearish. Sellers continue to control the market below key resistance levels, and any upside is currently viewed as corrective. A decisive move below $69,000 would likely accelerate downside pressure, while a recovery above $71,500 is needed to ease bearish risks.
