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12h ago EN
Bitcoin BTCUSD Bearish ABCDE Correction| Major Resistance Reject
Description Bitcoin (BTCUSD) is showing a potentially important bearish correction structure on the 1D chart. Price is currently trading around the $64,800 area, while the major resistance and supply zone is positioned around $66,400–$67,400. The chart highlights a possible ABCDE corrective structure, where the market may be forming the final D → E leg after rejection from the higher resistance area. 🔴 Key Resistance / Supply Zone: $66,400 – $67,400 If Bitcoin moves back into this zone and shows a strong rejection, bearish momentum could increase. The marked structure suggests that the D wave may test the upper resistance zone before a potential decline toward the lower demand area. 📉 Potential Bearish Targets: • First major area: $63,000–$62,000 • Important support: around $59,200 • Deeper projected target: $58,000–$57,800 The $59,200 area is an important level on this chart because it aligns with a previous market structure/support zone. A decisive breakdown below this region could indicate further downside continuation. At the same time, traders should watch how BTC reacts around $66.4K–$67.4K. A clean breakout and daily close above the resistance zone could invalidate the bearish setup and change the market structure. ⚠️ Important: This is a technical analysis scenario, not a guaranteed prediction. The ABCDE structure is only valid if price action continues to respect the projected levels. Always wait for confirmation through price action, market structure, volume, and your own risk-management rules before entering a trade. 🔍 Key Levels Resistance: $66,400 – $67,400 Current Price Area: ~$64,800 Support: ~$63,000 Major Support: ~$59,200 Potential Final Target: ~$58,000 The main idea of this analysis is to monitor the $66.4K–$67.4K resistance zone for rejection and then watch for bearish continuation toward the lower support/demand zones. 📌 BTCUSD Bearish Scenario: Resistance → Rejection → Bearish Continuation → $63K → $59.2K → Possible $58K area 🚨 MEME COIN ALERT 🚨 New Solana meme coin is here 👀🔥 🪙 CA: Fh9jwaKoW3Yr8uVr9p8ewBpzuoWtviDb2nd7XZvrpump 😂 MEMES ⚡ COMMUNITY 🚀 SOLANA DYOR • NFA • No guaranteed profits Who’s joining the meme squad? 👀🔥