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Bitcoin is trading after a heavy pullback, with traders weighing whether the latest move is a controlled correction or the start of a deeper downtrend. Technical signals are mixed across timeframes: the daily chart remains bearish and corrective, while intraday indicators point to an attempted bounce.
On the daily timeframe, BTC closed near $67,221, below the short- and medium-term moving averages cited in the report:
The report interprets price trading below the 20- and 50-day EMAs as confirmation of a short-term downtrend. It also notes that being far under the 200-day EMA highlights how extended the prior upside was and how deep the current corrective phase has become.
Momentum indicators on the daily timeframe are also soft:
On pivots, the daily close is described as sitting near the main pivot point: PP $66,930, with R1 $67,579 and S1 $66,573. The report frames this as a decision zone: holding above the pivot could allow mean reversion higher, while losing it could open room for further downside.
On the 1-hour timeframe, BTC is attempting to bounce, which slightly offsets the daily bearish bias but does not fully reverse it. The report shows the following moving-average positioning for the hourly chart:
Hourly momentum has improved:
Pivot levels on the hourly chart are given as PP $67,163, R1 $67,292, and S1 $67,037. The report notes price is pinned near the hourly pivot and pressing toward resistance, with the bounce intact as long as it holds above the pivot area.
The 15-minute timeframe shows the clearest bounce structure, though the report warns it is becoming stretched. BTC is positioned above key intraday EMAs:
Intraday momentum is elevated:
Pivot levels for M15 are listed as PP $67,168, R1 $67,170, and S1 $67,166, with price described as “glued” to the pivot cluster—suggesting a micro balance after a sharp move.
Outside the charts, the report cites Bitcoin dominance around 56.2% and a total crypto market cap of roughly $2.39T, up about 1% over 24 hours. It also references the Fear & Greed Index reading “Extreme Fear” at 9, describing this as consistent with traders de-risking into Bitcoin or stablecoins.
It further notes that total market volume is down nearly 19% over 24 hours, which it characterizes as consistent with slightly higher prices on lighter volume—typical of a bounce within a correction rather than a fully committed buying wave. The report also states that DeFi fee metrics show a cooldown in DEX activity over the last day across major protocols such as Uniswap and Curve.
The report’s primary scenario remains bearish/corrective on the daily timeframe. Even with intraday bullish momentum and extreme fear, it argues that shorting blindly may be late because the market has already deleveraged and is attempting to recover on shorter timeframes.
For the bullish path, the report highlights conditions such as:
Upside targets cited include a move toward the 20-day EMA near $68,500, and if acceptance builds, a next magnet at the 50-day EMA near $70,700. The report notes that a sustained break above the 50-day EMA would shift the narrative away from a bounce within a correction.
On the downside, the report outlines a bearish sequence such as:
It also notes that with daily ATR around $2,448, a move toward the low- to mid-$60,000 region could occur within a few sessions once support cracks.
The report frames the next decisive clue as how price behaves around the resistance band between roughly $67,700 and $68,500, and whether support around $66,500–$66,900 can continue to absorb selling. Until one side breaks convincingly, it expects volatility and two-way trading.
In brief\n\nBitcoin dropped to about $93,000, falling back below the EMA50 and putting its recent golden cross at risk of invalidation. The global crypto market cap stands at $3.15 trillion, down 2.38% in 24 hours. On Myriad Markets, 82% of the money is betting on Bitcoin pumping to $100K before…
