In the last 24 hours, Bitcoin has slipped through several important support zones and is now pushing beneath a descending channel that had already been guiding price lower
The higher timeframe had already signaled weakness after losing both the multi-month trendline and the $72.5K area. Now the lower timeframe is starting to confirm that bearish shift
There is no need to force a complicated interpretation here. When support levels fail across multiple timeframes, price often gravitates toward the next significant liquidity zone
The area I'm watching sits near $68.7K
If buyers cannot quickly recover the latest breakdown, a move into that region looks increasingly likely in the near term.
Bulls need to defend here!! If they do (and OrderFlow confirms) I’ll be interested in a long, looking for a bounce to retest rVAH + the lost uptrend AVWAP.
The two EMAs have indeed acted as resistance in this Bear Market and have since forced price to drop into the Double Bottom formation top for a post-breakout retest
I've seen this pattern too many times to stay quiet about it
1. Local top at $89k - sellers stepped in hard 2. Sharp impulse down to $60k 3. Dead cat bounce to $82k - rejected clean by the descending 200D MA 4. Lower high confirmed. Now rolling over
Every major BTC dump ran this exact sequence before the real move:
2021-2022: $69k top -> $46k lower high -> -77% from peak to $16k 2017-2018: $20k top -> $11.8k lower high -> -84% from peak to $3.2k
Both times the crowd called the lower high a recovery. Both times it wasn't