BTCUSD – Retest Incoming? Watching for Double Bottom at 65.5k
Bitcoin remains in a clear short-term downtrend, with price trading below the 200 EMA and forming lower highs.
After the recent sell-off, price is now consolidating and attempting a weak push higher, but is running into confluence resistance:
Descending trendline
EMA cluster
Previous structure resistance (~66.6k – 67k)
So far, price is struggling to break above this zone, suggesting this move may be a bearish continuation (flag/relief rally) rather than a true reversal.
– Scenario I’m Watching
Bearish case (more likely for now):
Rejection from current resistance
Move back down toward 65.5k support
Possible liquidity sweep below
– Double Bottom Setup (conditional):
Price revisits ~65,500
Strong rejection (wicks + momentum)
Break above recent lower high (~66.8k – 67k)
Only then would a double bottom be confirmed.
– Key Levels
Resistance: 66.6k – 67k
Support: 65.5k
Breakdown below 65.5k → opens downside toward 64k