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📊 $BTC /USD Update – Rejection at Trendline | Possible Start of a New Bearish Impulse (1H)

Following the previous analysis, Bitcoin has now completed the expected corrective bounce, reaching the projected resistance area and reacting strongly from it.

Price tapped the descending trendline resistance and the key horizontal level near 74K, where sellers stepped in aggressively.

🔎 Market Structure Update

The corrective structure appears to have developed as a Regular Flat (ABC):

• Wave A: Initial recovery from the support zone
• Wave B: Pullback into the ascending support trendline
• Wave C: Final push into the resistance cluster near 73K–74K

The C wave completion at resistance combined with the trendline rejection increases the probability that the correction phase has ended.

📉 Bearish Context

The broader structure still favors a downtrend, supported by:

• Major descending trendline acting as resistance
• Price rejecting from a previous supply zone (~74K)
• RSI bearish divergence forming near the recent top
• Price trading inside a descending channel

This confluence suggests the market may now begin a new impulsive move to the downside.

📊 Potential Scenario

If the rejection continues to hold, the market could start Wave 1 of a new bearish impulse.

🎯 Primary downside target zone:
≈ 60,000

This level aligns with:

• Previous strong support
• Psychological round number
• Liquidity resting below the current range

🛑 Invalidation Level

A sustained break above the recent high (~74K) would invalidate the immediate bearish scenario and suggest further upside continuation.

⭐ Technical Confluences

• ABC corrective structure completed (Regular Flat – 57% probability)
• Strong trendline resistance rejection
• RSI bearish divergence
• Price reacting from HTF resistance zone

💬 Conclusion

Bitcoin has now reached a critical decision point. The reaction from resistance suggests that the corrective rally may be over, and the market could be preparing for a new impulsive move downward.

If momentum confirms the breakdown, the 60K region becomes the next major liquidity target.

📌 This analysis reflects a technical interpretation of the chart and is not financial advice.

#BTC #Bitcoin #Crypto #ElliottWave #TradingView #TechnicalAnalysis

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📈 After months of that steady, almost boring climb, we’re seeing the "Grey Swan" effect take hold. It starts with a whisper in the bond yields and ends with everyone staring at the same red candles.
📉 Volatility isn't just about prices dropping; it’s about the speed of the shift. Major indices are hitting friction points where institutional algorithms usually fight for control, creating these sharp, jagged movements.
⚖️ It matters right now because the "buy the dip" crowd is finally being tested for real. When the VIX spikes like this, it’s usually a signal that the big players are re-hedging their bets for the rest of 2026.
🌪️ We could see a period of "choppy sideways" or a deeper flush to clear out the late leverage. Either way, the easy money phase is taking a nap. It feels like the market is resetting its expectations for the summer.
Stay light, watch the levels, and don't let the noise force a bad move.
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