Bitcoin ($BTC) has officially broken below its multi-month diagonal support trendline on the daily timeframe, dropping to $63,442.
After multiple failed attempts to push above the $66,000-$67,000 supply zone, buyers are showing clear signs of exhaustion. The daily market structure has now shifted from consolidation into a aggressive distribution phase.
Key Highlights:
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Immediate Breakout Level: $63,442 lost as daily support.
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Overhead Resistance: Strong supply sitting at $66,000-$67,000.
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Macro Downside Target: Major liquidity pool stacked at $50,000-$52,000.
With open interest remaining uncomfortably high and funding rates still neutral, late longs are trapped above $64K creating the perfect setup for a liquidity sweep down to lower support levels.
Disclaimer: This post is for educational and research purposes only and does not constitute financial advice. Always do your own research (DYOR).
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