Bitcoin Respects Major Supply | Bearish Wave Y Remains in PlayBitcoin / TetherUS PERPETUAL CONTRACTBINANCE:BTCUSDT.PMASCryptoAna# Bitcoin Market Analysis (BTCUSDT) ## Quick Summary **Bias:** Bearish **Expected Move:** 64.5K → 61.1K → 59.5K **Confidence:** ★★★★☆ (4.5/5) **Status:** Active --- ## Market Bias Bearish Despite the recent corrective movements, Bitcoin continues to respect the broader bearish structure. The market remains below the major supply zone, keeping the primary downside scenario valid. --- ## Market Structure **Current Structure:** • Choppy corrective movement within a bearish trend. **Timeframe Alignment:** • 30m: Bearish confirmation completed. • 1H: Bearish confirmation completed. • 2H: Confirmation developing. --- ## Current Scenario Following yesterday's break above **64.7K**, the previous bearish setup became invalid, exactly as mentioned in the invalidation section of my last analysis. As a result, I extended the corrective structure on the **30-minute timeframe and all lower timeframes**, while keeping the main bearish origin unchanged at **65,722**. Bitcoin has once again respected the previous major supply zone between **64.5K and 65.1K**, where sellers successfully defended the area. Lower timeframes and the **1H timeframe have now confirmed the bearish rejection**, supporting the continuation of **Blue Wave Y**. The only remaining confirmation is the **2H timeframe**, which is expected to develop soon. --- ## Why This Scenario? • Bearish confirmations are active on lower timeframes and the 1H chart. • Price continues to respect the major supply zone. • Elliott Wave structure still supports the continuation of Blue Wave Y. • The main bearish structure remains unchanged. --- ## Key Levels 🔴 **Resistance** • 65.1K • 65.7K 🟢 **Targets** • **Primary Target** 61.1K • **Extended Target** 59.5K --- ## Invalidation This analysis becomes invalid if Bitcoin closes above **65.7K**, invalidating the whole current bearish structure. --- ## Market Confidence **★★★★☆ (4.5/5)** Reason: • Multi-timeframe bearish confirmation remains strong. • Supply zone continues to hold. • Only the 2H confirmation is still pending. --- ## Next Update This analysis will be updated after either: • The 2H timeframe confirms the bearish continuation. • A market structure break occurs. --- If you find this analysis useful, consider following **MAS Crypto Analysis** for regular Bitcoin market updates. *This publication is intended for market analysis and educational purposes only. It does not constitute financial advice.*