Bitcoin is sitting at a critical inflection point. After losing important support and pressure on the extremes of the range, the market is now facing a clear binary outcome: regain the range and height. change momentum rebounds, or fails and moves to a new weekly low. The next move from here will likely set the tone for Bitcoin’s short-term direction.
Bitcoin Test Range Extremes
Currently, Bitcoin is navigating a period of high tension as it tests its range extremes, which analyst Lennaert Snyder classifies. notes can feel intimidating to many traders. However, these periods of great flexibility often serve as the basis for a very high quality setup.
Related Reading
The current strategy remains patient, focusing on the Market Structure Break (MSB) as a key requirement for entering a long position. In the H4 time frame, a particular level to watch is $66,590. Achieving and holding this level will signal change pressuregiving the first green light for the bulls to enter.
While the $66,590 mark is the first hurdle, it’s the true pivot of the structure bullish the flip sits around $68,000. This level is very important because it holds the Point of Control (POC) for the entire range. Reclaiming this space will shift the narrative from defensive to offensive, ensuring that buyers regain control of the value space.
If Bitcoin successfully finds the level of $68,000, it opens a clear path to resistance at $71,422. Besides, the main purpose of this step would be great the economy the collection sits at $76,971. Therefore, the $68,000 area is also an important area for bears as it could be the main short entry following a confirmed rejection.
Conversely, the market should define the possibility of a bull trap at lower resistance levels. If Bitcoin sweeps above $66,590 only to be met with a sharp rejection, it would suggest that the rally was simply a money grab. Such a failure could trigger a wave of aggressive short selling, which could push the price down to find a new weekly low.
$65,000 Support Missed – Momentum Shifts Low
The latest reviewTed noted that Bitcoin has now broken below the $65,000 key support areaturning the short-term momentum back into a bearish position. Losing this level weakens the adjacent structure and opens the door to further exploration below.
Related Reading
That said, significant liquidity for the bid is placed between $60,000 and $63,000, creating a potential demand package. However, whether that area has them may be highly dependent on broader market conditions, particularly whether stock the market behaves in future sessions. Given the current set-up, the $60K downside sweep seems too wide ahead of any reasonable attempt to pull back.
Featured image from Pixabay, chart from Tradingview.com
