After rejecting from dynamic resistance, BTC is back under the point of control (POC). The short-term trend remains bearish, and bulls need to reclaim key levels to shift the tone.
Overview:
Bitcoin has slid back into the local range after failing to hold above a key resistance area. This rejection lined up with a bearish harmonic pattern and a swing failure at recent highs, leading to a clean pullback.
We’re now seeing price consolidate around the point of control (POC) from the move that started April 23rd — a level that’s been pivotal for both buyers and sellers.
Key Technical Insights:
Dynamic Resistance Holding Strong: Lower highs continue to form under this key trendline — bulls have yet to break structure.
POC Acting as Resistance: BTC is currently holding below the volume node — further rejection here increases the chance of range continuation.
Short-Term Trend Dominates: Lower highs and lower lows have formed a clean downtrend on lower timeframes. Without a shift, this could start spilling into higher timeframe momentum.
Market Context:
The lower-timeframe structure has held steady for over a week, and the failure to form a higher low is keeping downside pressure intact. Volume is concentrated at the POC, suggesting the market is at a decision point — resolve above it, or rotate toward the lower range.
Right now, the structure leans bearish until price breaks above the dynamic resistance or prints a higher low.
What to Watch Next:
If BTC continues to reject from the POC and dynamic resistance, expect further pressure to the downside and possible tests of range support. Reclaiming the POC would be the first signal of potential recovery — but until then, the short-term trend favors caution.
Overview:
Bitcoin has slid back into the local range after failing to hold above a key resistance area. This rejection lined up with a bearish harmonic pattern and a swing failure at recent highs, leading to a clean pullback.
We’re now seeing price consolidate around the point of control (POC) from the move that started April 23rd — a level that’s been pivotal for both buyers and sellers.
Key Technical Insights:
Dynamic Resistance Holding Strong: Lower highs continue to form under this key trendline — bulls have yet to break structure.
POC Acting as Resistance: BTC is currently holding below the volume node — further rejection here increases the chance of range continuation.
Short-Term Trend Dominates: Lower highs and lower lows have formed a clean downtrend on lower timeframes. Without a shift, this could start spilling into higher timeframe momentum.
Market Context:
The lower-timeframe structure has held steady for over a week, and the failure to form a higher low is keeping downside pressure intact. Volume is concentrated at the POC, suggesting the market is at a decision point — resolve above it, or rotate toward the lower range.
Right now, the structure leans bearish until price breaks above the dynamic resistance or prints a higher low.
What to Watch Next:
If BTC continues to reject from the POC and dynamic resistance, expect further pressure to the downside and possible tests of range support. Reclaiming the POC would be the first signal of potential recovery — but until then, the short-term trend favors caution.
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Join the Free Trading Group
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Trade with perks & support the community!
partner.blofin.com/d/alchemisttrader 🎁
Stay sharp, trade smart.
— Team The Alchemist ⚔️
Telegram: t.me/freetradingden 🔥
Unlock Blofin Bonuses
Trade with perks & support the community!
partner.blofin.com/d/alchemisttrader 🎁
Stay sharp, trade smart.
— Team The Alchemist ⚔️
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.