BTC/USD Smart Money Analysis & AMDBitcoin / U.S. dollarBITSTAMP:BTCUSDMichael_Fx_TraderBitcoin (BTC/USD) is displaying a textbook AMD (Accumulation → Manipulation → Distribution) market cycle on the 1-hour timeframe. After completing the accumulation phase near the lower demand zone, buyers successfully pushed price higher, creating a strong bullish rally. This rally represents the Manipulation phase, where liquidity above previous highs was swept, attracting breakout buyers before institutional sellers entered the market. Following the liquidity grab, price reached a significant Order Block & Resistance zone around 64,250–64,450, where buying momentum weakened. This rejection marked the beginning of the Distribution phase, as smart money gradually offloaded long positions. The market then produced a clear Market Structure Shift (MSS), confirming that control had shifted from buyers to sellers. After the bearish structure break, Bitcoin experienced an impulsive decline, respecting the descending trendline and printing a series of lower highs and lower lows. The sell-off eventually reached the Strong Support & Order Block near 61,700–61,900, where buyers stepped in and triggered a technical rebound. The current recovery appears to be a corrective pullback rather than a confirmed bullish reversal. Price is approaching minor intraday resistance around 62,700–62,900, where sellers may attempt to defend the bearish structure. Unless Bitcoin can reclaim the major Order Block near 64,250, the overall market structure continues to favor the bears. From an AMD perspective, the complete cycle has already unfolded: Accumulation: Smart money accumulated positions at the lows. Manipulation: Liquidity above previous highs was swept, trapping late buyers. Distribution: Institutions distributed positions near resistance before initiating the sharp decline. This sequence strongly supports the idea that the recent rally is a retracement within a broader bearish trend unless key resistance levels are broken. Key Levels to Watch: Immediate Resistance: 62,700–62,900 Major Resistance: 64,250–64,450 (Order Block & Supply Zone) Support: 61,700–61,900 (Strong Order Block) Breakdown Target: Below 61,700 if sellers regain momentum. Trading Outlook: As long as Bitcoin remains below the 64,250–64,450 resistance zone, the market structure remains bearish. A rejection from the current pullback could lead to another move toward the 61,700 support and potentially new lows. However, a decisive breakout above the major Order Block would invalidate the current bearish outlook and open the door for a stronger bullish recovery. Overall Bias: Bearish 📉 (AMD Distribution Phase remains in control until major resistance is reclaimed.)