From TradingView · · 50s
Bitcoin Breakdown and Short Continuation
Bitcoin breaks key resistance as supply zone mitigation sets short continuation.
In brief
Bitcoin breaks key resistance as supply zone mitigation sets short continuation. Bitcoin price tests $75,976 resistance after breakdown, signaling potential bearish continuation toward $74,494. Originally reported by TradingView.
Bitcoin Breakdown
Bitcoin has broken earlier highs on the 15-minute chart and is consolidating beneath an overhead supply zone.
Resistance Block
Price retraced into the $75,976, $76,334 resistance block after a lower-high structure.
Supply Zone Test
Price is testing the lower boundary of the supply zone near $75,976 after a corrective pullback.
Bearish Rejection
Technical mapping anticipates a potential rejection from the resistance area to resume the broader downtrend toward $74,494.20.
Downside Target
The major lower support / liquidity target is set at $74,494.20 with structural invalidation above $76,334.07.
What it means
Bitcoin price tests $75,976 resistance after breakdown, signaling potential bearish continuation toward $74,494.
