Currently, the market is showing a bearish trend after a strong distribution phase.
Price earlier moved around 105,000 – 100,000 zone
Then the market started making lower highs and lower lows
After that a sharp breakdown happened toward 60,000
This confirms that sellers dominated the market in the recent move.
2. Major Resistance Levels-
Resistance 1: 70,000 – 71,000
This is the nearest resistance zone.
Reasons:
Price recently rejected from this area.
Previous consolidation happened here.
If BTC comes again to this level:
Sellers may try to push price down again.
Breakout condition:
Strong candle close above 71k can push market higher.
Resistance 2: 74,000 – 75,000
This level is important because:
Moving averages are also near this area.
Previous support became resistance.
If BTC reaches here:
Market may face heavy selling pressure.
Resistance 3: 79,000 – 80,000
This is a major macro resistance.
Why important:
Previous structure level
Strong rejection zone in the past
Break above this level can lead to bullish trend continuation.
3. Major Support Levels-
Support 1: 65,000 – 66,000
This is the current short-term support.
Reasons:
Price is consolidating here
Buyers are trying to hold this zone
If this level breaks:
Market may fall quickly.
Support 2: 60,000
This is a very strong psychological support.
Reasons:
Strong buying wick visible on chart
Large volume spike occurred here
If BTC again comes to 60k, buyers may step in again.
Support 3: 57,000 – 58,000
If 60k breaks, this becomes the next strong support.
This level may act as a long-term accumulation zone.