Bitcoin — A Pullback or the Start of Something Bigger? for COINBASE:BTCUSD by TheZimpact
🔥After printing a strong rally toward the 66. 9K resistance, Bitcoin is now experiencing its first meaningful pullback. Rather than chasing the move, the market is returning to test an important confluence where the descending Dynamic SR meets the Golden Zone. This area could become the battlefield that determines the next major direction. 🏆Previously: https://www. tradingview. com/chart/BTCUSD/vRUX5jWl-Bitcoin-Breakout-loading/ At the same time, price is still trading above the broader range …
🔥After printing a strong rally toward the 66. 9K resistance, Bitcoin is now experiencing its first meaningful pullback. Rather than chasing the move, the market is returning to test an important confluence where the descending Dynamic SR meets the Golden Zone. This area could become the battlefield that determines the next major direction. 🏆Previously:At the same time, price is still trading above the broader range support, meaning the overall structure hasn't been invalidated yet. The current correction looks more like a test of conviction than a confirmed trend reversal. 📈 Bullish scenarioA decisive reclaim of the Golden Zone (65,200 – 65,600) together with a breakout above the descending Dynamic SR could be the spark buyers are waiting for. If momentum returns, Bitcoin may first challenge 66,900, and a successful break above that ceiling could unlock the next bullish expansion toward the 68,000 – 68,500 liquidity zone. 📉 Bearish scenarioIf buyers fail to defend the current structure and price continues to lose momentum, the next downside objective sits around the 61,800 – 62,200 demand area. Losing that support would increase the probability of a deeper correction before the broader uptrend can resume. For now, Bitcoin is sitting at a crossroads. The next reaction around the Dynamic SR and Golden Zone may decide whether this is simply a healthy retracement—or the beginning of a larger correction. DisclaimerThe 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 theTerms of Use.