BTC 12% Bounce From 58.5K: Now Watching the Red Resistance ZoneBitcoin / TetherUSBINANCE:BTCUSDTTrader_Gemini Summary: BTC has bounced more than 12% from the 58.5K long zone. The key question now is whether this move can continue higher, or whether BTC is entering a meaningful resistance area. Yesterday, BTC was struggling around the mid red resistance box. Then CPI acted as a short-term bullish catalyst, and price broke through that zone strongly. This was a positive short-term reaction. However, my bigger view has not changed. I still think the mid-term and long-term structure favors the short side. The point is not to marry one direction. Even with a broader short-side view, BTC was trading in an area where a bounce was possible. That was why I was watching the 58.5K area for a long reaction. Since then, BTC has moved more than 12% higher. Now the focus shifts from the bounce zone to the resistance zone. Current structure: The structure I am watching now is a possible running triangle. If this count is correct, the upper red box can become a meaningful resistance area. That means this is not a zone where I want to blindly chase new longs. The bounce has already played out well. Now I want to see how price reacts around the red resistance box. Trading view: If BTC rejects strongly inside the red box, I will consider the possibility of a correction or short setup. If BTC breaks through this box strongly and holds above it, then the upside extension scenario remains open. For now, I think the best approach is not prediction, but response. Conclusion: The 58.5K bounce scenario worked, and BTC has moved more than 12% higher. CPI helped price break through the mid red resistance box. But the next important test is the upper red resistance zone. If the running triangle scenario is correct, this area can produce meaningful resistance. This is a market structure analysis, not financial advice.