Last week s idea partially played out.
BTC did not retrace 63500. Instead, it held above the zone consolidated and reclaimed 64400, moved through the 64900 – 65200 target area, and eventually traded above 66500.
The bullish move played out, but the pullback entry from the demand zone never came.
After topping near 66900, BTC started forming a bearish sequence. The later rejection around 65760 formed another lower high.
I would have preferred BTC to bounce from 64400. That would have been much healthier because it would have confirmed that previous resistance had become support and that bullish continuation remained intact.
Instead BTC broke through 64,400 with a clear increase in selling volume and continued acceptance below it
The 1H structure is now bearish and price is consolidating around 64k. As long as BTC remains below 64300 i expect more downside.
If price retraces into 64300 – 64600 and rejects, I will look for short entries.
If price moves directly downward from here, I will watch the 63200 – 63500 zone for a reaction, but for a new long I would prefer a deeper move toward 62500.