On the 12-hour chart, BTCUSD is showing clear downward pressure after losing a crucial equilibrium zone and slipping deep below the Ichimoku cloud. The current structure is no longer a typical correction, but rather leans more towards a distribution phase followed by an extended decline.
Notably, the $64,000-$65,000 region has now become near resistance. If the price rebounds to this area but fails to regain buying momentum, it could only be a retest before sellers continue to push the price down.
Regarding news, Bitcoin is under pressure from strong US labor data, expectations of a more hawkish Fed policy, and weakening ETF inflows. When the USD and yields are supported, risky assets like BTC often struggle to sustain a recovery.
The main scenario remains bearish as long as BTCUSD stays below the upper resistance zone. If selling pressure continues, the next target could be $56,000.
Reference strategy:
Wait to SELL around $64,000 – $65,000 if the price is rejected.
SL: above $66,000
TP: $58,000 – $56,000