Taking reference from our previous analysis, the bearish stance on Bitcoin remains firmly intact.
As highlighted earlier, a bearish flag and pole formation was developing on the daily timeframe. The structure is now nearing confirmation, with price compressing toward the key support zone.
The 63K level is critical — a decisive break below this support is likely to trigger the next leg of the sell-off.
Market Outlook
Trend: Bearish
Pattern: Bearish Flag Breakdown Setup
Trigger Level: 63,000
Expectation
Once the 63K support is broken, the market may witness an accelerated move towards the downside, with 39K acting as a potential target zone.
Strategy
📉 Bias: Sell on breakdown / sell on strength
Avoid initiating long positions in current structure
Short positions may be considered with defined risk management
Prefer entries either on breakdown confirmation or pullbacks
Conclusion
BTC remains under strong bearish control, and the current structure suggests a continuation move lower. A break below 63K could act as a major trigger for downside expansion.