Relief Rally or Another Leg Down?Bitcoin / TetherUSBINANCE:BTCUSDThjryyzpjqkBitcoin has broken down from its long-term ascending channel and is now trading below the 20, 50, and 100-day EMAs, suggesting that bears currently have control of the market. After the recent sharp selloff, BTC is attempting a recovery. However, I am watching the highlighted resistance zone between **$62,725 and $67,872** very closely. This area contains former channel support, key moving averages, and descending trendline resistance, making it a potential decision point for price. **What I'm watching:** 🔹 Resistance Zone: $62,725 – $67,872 🔹 Key Support: $59,130 🔹 Downside Target: ~$53,450 if support fails The RSI has recovered from oversold conditions but remains below the bullish threshold, while the Stochastic RSI is already approaching overbought territory. This combination often accompanies relief rallies during broader downtrends. If BTC is rejected within the highlighted sell zone, a retest of the $59K support becomes increasingly likely. A breakdown below that level could open the door toward the $53K-$56K region. On the bullish side, reclaiming and holding above $68K would be the first sign that buyers are regaining control. For now, I remain cautious and will be watching how price reacts within the highlighted resistance area before determining the next major move. **What do you think? Is this a temporary bounce or the start of a larger recovery?** *This analysis is for educational purposes only and not financial advice.*