Staring at 64-66k, if resistance turns into support here, the pullback probably isn't over yet, and the 54k level below is calling.

$BTC After four months, price has finally filled the capitulation wick at $60k.

During that move, we saw price briefly wick below $60k to take out the remaining liquidity that was sitting underneath, followed by a bounce and acceptance back above.

The key level to watch from here is the $64k-$66k zone. This area acted as major support throughout the previous range and could now turn into resistance during a potential bearish retest.

In case of a rejection, price will most likely revisit $60k quickly. Should bearish momentum remain strong enough afterwards, there is a decent chance of a continuation lower towards our next key support level at $54k.

If BTC, on the other hand, manages to reclaim this zone, we should at least see a continuation towards $68k before price potentially forms a lower high.

Either way, I don't believe this correction is over yet. I still think there is more downside left before BTC eventually forms its bottom.