Bitcoin: Range Break Retest. Is Another Leg Down Coming?Bitcoin / U.S. dollarBITSTAMP:BTCUSDFlorinChartsBitcoin is currently testing a key resistance level after a strong breakdown, and the structure on the chart tells a familiar story: range → breakdown → new range → potential continuation lower. The First Range and Breakdown Earlier on the chart, Bitcoin was trading inside a large consolidation range between roughly 84K and 95K. After multiple attempts to break higher, price finally lost the range support, triggering a sharp sell-off. This breakdown led to a fast move down toward the low 60K region, showing how quickly momentum can shift once major support fails. Large ranges often act like energy accumulation zones and when they break, the move can be violent. The New Range After the drop, Bitcoin started forming a new consolidation range between ~62K and ~70K. This type of structure is very common after strong impulsive moves Right now price is testing the upper boundary of this new range, which is acting as resistance. Why This Level Matters Notice how the previous range resistance also produced a rejection before the breakdown. Markets often repeat behavior because trader positioning tends to repeat. If Bitcoin fails again at this resistance zone, the market could see another continuation move lower toward the 63K area What to Watch Two key scenarios: 1. Rejection from resistance - Price fails near 70K - Market returns toward 63K support 2. Breakout scenario - Strong close above the range - Possible reclaim of higher market structure