Bitcoin continues to show a bearish market structure, and as long as price remains below the yellow supply zone (61K–62K), the downside risk remains elevated.

This zone has now flipped from support into resistance.
What I'm Watching
1️⃣ Failure to reclaim 62K ➡️ Sellers remain in control
➡️ Next downside trigger: 54K
➡️ This becomes the first major support zone.
2️⃣ Panic Selling Accelerates ➡️ Market searches for deeper liquidity
➡️ Strong demand zone sits around 49K.
3️⃣ Possible Fakeout First ➡️ $BTC could squeeze shorts and bounce toward 62K–64K
➡️ Trap late longs and create bullish sentiment
➡️ Then resume the larger downtrend.
TECHNICAL ANALYSIS
• Lower highs continue to form.
• Price is trading below the key resistance zone.
• RSI remains weak and unable to regain bullish momentum.
• MACD momentum is still favoring sellers.
🎯 Key Levels
•Resistance: 62K–64K
•First support target: 54K
•Major demand zone: 49K
Markets rarely move in a straight line, so don't rule out a sharp relief bounce first. But unless bulls take back 62K+, every bounce should be treated cautiously.
Stay patient. In bear markets, the biggest rallies often turn into the biggest traps.