$BTC experienced an aggressive sell-off from the upper range, sweeping downside liquidity before reacting sharply from a well-defined demand zone near 66,500–66,700. The reaction appears technically driven, with short-covering and liquidity absorption fueling the current bounce.
At this stage, the move should be treated as a corrective rally within a broader range structure, unless price establishes acceptance above key resistance.
Market Structure Overview
The recent drop effectively cleared resting liquidity below the range lows — a common market behavior before short-term reversals. Following the sweep, buyers stepped in decisively, generating a relief bounce.
However, the broader structure remains rotational. For a shift in bias, Bitcoin must reclaim and sustain trade above the mid-range resistance zone.
Key Scenarios
✅ Bullish Scenario – Corrective Upside Expansion
If momentum continues and price breaks above resistance with strong follow-through:
🎯 Target Zone: 69,400 – 69,600
A sustained move above this level would signal strength and open the path toward higher range resistance.
❌ Bearish Scenario – Resistance Rejection
If price stalls or forms lower highs near resistance:
📉 A rejection could send Bitcoin back toward:
66,700 → 66,500 demand zone
Failure to hold that support increases the probability of a deeper liquidity run toward the 65,000 region.
Critical Levels to Monitor
🔴 Resistance: 69,400 – 69,600
🟢 Support: 66,500 – 66,700
Volume behavior and reaction at these zones will determine short-term direction.
Professional Perspective
Liquidity-driven moves often produce sharp countertrend bounces. While the current recovery is technically valid, confirmation requires structural reclaim — not just momentum.
Until resistance is cleared decisively, this remains a corrective phase within range conditions.
⚠️ Disclaimer: This analysis is for educational purposes only and does not constitute financial advice.
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