BTCUSDT (W1)Bitcoin / TetherUSBINANCE:BTCUSDTcryptodailyuk🔍 Market Structure For many months, the uptrend has been in a channel – clear higher highs and higher lows. A breakout from the uptrend channel → indicates a change in market structure (BOS) to weekly. The current move is a correction after a downward impulse, not a new uptrend. ➡️ HTF Bias: BEARISH / Corrective 🧱 Key Levels 🟢 Resistance (now resistance) 98,000 – 100,000 → former support, currently flipping to resistance 109,000 → strong weekly supply / EQ of the previous range ~125,000 → upper band of the old channel (unrealistic without a change in structure) 🔴 Support 85,400 → current reaction zone (local demand) 74,300 → key weekly demand, a very important level Below: ~68–70k (another HTF zone – not marked, but logical) 📉 Price Action Strong, impulsive bearish candle + long lower wick → liquidations + panic sell No strong upward momentum after the rebound → weak demand Current move = bear flag / bear range ➡️ This does NOT look like the end of the correction. 📊 Volume High volume on the decline → distribution Declining volume on the bounce → no real buyers ➡️ Classic pattern: dump → weak bounce → continuation 📈 Indicators Stochastic RSI (W1) In the oversold zone, but: No strong bullish cross + no price impulse ➡️ May grind low for many weeks CHOP Falling → market preparing for a bigger move Direction still more down than up 🧠 Scenarios 🟥 Baseline scenario (most likely) Rejection 98-100k Return to 85k Test 74k Only then the decision is made: bounce vs. Deeper bear market 🟩 Alternative scenario (less likely) Weekly close above 100k Retest of 98k as support Only then can we consider 109k ❗ Key takeaways ❌ This is not a good time to go long on HTF ❌ The current rebound is a pullback, not a reversal ✅ Shorts only on retests of resistance ✅ Spot DCA only makes sense at 74k ±