BTCUSD | Daily Technical Outlook
Market Structure
BTCUSD is extending its broader bearish trend after repeated failures to sustain recovery attempts. The recent rejection from the $70,000 – $71,000 region reinforced downside pressure, triggering another leg lower and keeping the market locked within a clear lower-high, lower-low sequence.
The sharp selloff pushed BTC back toward the $66,500 – $67,000 support zone, where price is currently attempting to stabilize. However, the overall structure on the daily and H4 timeframes remains weak, with moving averages sloping downward and momentum favoring sellers.
Key Resistance Zone
The nearest resistance now stands at $68,500 – $69,500, a zone formed by the latest breakdown and dynamic moving average confluence. Any short-term rebound is likely to face selling pressure here.
Additional resistance levels:
- $70,500
- $72,000 – $73,000 (major structural resistance)
As long as Bitcoin trades below $69,500, bearish momentum remains dominant.
Key Support Zone
Immediate support is located around $66,500 – $67,000, where the current decline is attempting to base.
A breakdown below $66,500 would strengthen bearish continuation and expose lower downside targets:
- $64,000
- $61,500 – $62,000 (major higher-timeframe support)
Failure to hold $62,000 would significantly deepen the broader downtrend and confirm extended bearish continuation.
Expectations
Bearish Scenario (Primary)
The current structure favors further downside as long as price remains below $69,500.
If $66,500 breaks decisively, BTC could accelerate toward $64,000, with potential extension toward the $62,000 region.
Bullish Scenario (Alternative)
A sustained recovery above $69,500 would signal temporary stabilization and open the door toward:
- $70,500
- $72,000 – $73,000 (key resistance that must be reclaimed to weaken the bearish trend)
Until that occurs, upside moves are likely to remain corrective in nature.
Outlook
Bitcoin remains under strong downside pressure, with sellers maintaining control below the $69,500 resistance zone. The broader structure stays bearish unless BTC reclaims higher resistance levels, while a break below $66,500 could trigger another impulsive decline toward deeper structural support.
