Bitcoin has extended its decline after breaking below the $60,000 support zone, with prices now testing the $58.9K–59.7K demand area. Despite a brief consolidation, BTC remains below all major moving averages, confirming that sellers continue to dominate the higher timeframe trend.

📈 EMA Structure (Bearish)

20 EMA: $64.183

50 EMA: $68.136

100 EMA: $71.437

200 EMA: $77.198

Price is trading below all four major EMAs.

20 EMA acts as the first dynamic resistance.

50, 100, and 200 EMAs continue to strengthen the prevailing downtrend.

👉 BTC needs to reclaim the $64.2K–68.1K zone to improve short-term momentum and reduce bearish pressure.

📐 Fibonacci & Market Structure

Price remains well below the 0.236 Fibonacci level at $75.613, confirming that the macro trend remains bearish.

BTC has broken below several support levels and continues to make lower highs and lower lows.

Current price action shows consolidation near support, not a confirmed reversal.

A recovery rally could target:

$59.9K

$60.9K

$62.8K

$64.2K (20 EMA)

$68.1K (50 EMA)

Failure to hold current support could lead to:

$58.9K

$57.6K

Potential deeper declines if selling pressure accelerates.