Bitcoin Now Testing Key Demand Area Following A Triangle Breakdown
Summary
Bitcoin has broken down from a symmetrical triangle and is testing a key support/liquidity zone around $60,700–$60,800. If this area holds, a short-term bounce toward $62,400 is possible, with $61,800 seen as a favorable long entry after a pullback. A failed bounce would likely keep the broader downtrend intact and could lead to a sharp drop. The main bearish trigger is a solid 1-hour close below $60,800, which could open the way to $58,900 and, if selling continues, the $54,500–$49,000 zone. The overall view remains bearish despite the chance of a temporary rebound, and any recovery is considered tactical rather than a full trend reversal. Longer-term downside targets near $55,500 remain in focus.
