BTCUSD bearish pattern resistance retest

The BTCUSD currency pair continues to display a bearish outlook, in line with the prevailing downward trend. Recent price action suggests loss of support, potentially setting up for another move lower if resistance holds.

Key Level: 71,670
This zone, previously a consolidation area, now acts as a significant resistance level.

Bearish Scenario (rejection at 71,670):

A failed test and rejection at 71,670 would likely resume the bearish momentum.

Downside targets include:

64,454 – Initial support

62,730 – Intermediate support

60,160 – Longer-term support level

Bullish Scenario (breakout above 71,670):

A confirmed breakout and daily close above 71,670 would invalidate the bearish setup.

In that case, potential upside resistance levels are:

74,500 – First resistance

75,960 – Further upside target

Conclusion
BTCUSD remains under bearish pressure, with the 71,670 level acting as a key inflection point. As long as the price remains below this level, the bias favours further downside. Traders should watch for price confirmation around that level to assess the next move.

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