Bitcoin's False Breakout Confirmed: Expect Correction Towards Lower Zones

A recent analysis warned that Bitcoin's bullish move would only be valid if the price consolidated above its daily resistance and broke out above the 200-week EMA. This breakout was considered a false one, as the inability of Bitcoin to hold above this level reinforces the author's macro bearish view.

The current trading range for Bitcoin is between $66,000 and $60,000, with the $66,000 area acting as resistance. The author notes that trying to predict Bitcoin's exact bottom is a mistake, as nobody can accurately determine where a correction will end.

Instead of focusing on a single level, the author recommends identifying a high-probability accumulation zone and gradually building a strong position through staggered purchases within this value zone. The objective is not to achieve the perfect entry price but to secure a competitive average cost that allows participation in the next bullish cycle without depending on a single trade.

The broader trend remains bearish, and any bullish impulse should be viewed as a move designed to capture liquidity rather than the beginning of a sustainable uptrend. The author expects Bitcoin to revisit its key support at $60,000 and potentially the $58,000 area if this level fails to hold.