$BTC just went through a brutal shakeout and the chart tells a full story in one glance: a sharp rejection from the 79K area turned into a cascade of lower highs and heavy red candles, accelerating into panic selling that finally slammed into the 60K liquidity zone, where long wicks and a fast bounce signal aggressive dip buying and short covering. Price is now hovering around 65K, trying to stabilize after a -9% daily hit, but structure is still fragile with sellers clearly in control on higher timeframes and momentum only cooling, not reversing yet. This looks like a classic relief bounce after capitulation, not confirmation of a trend flip, meaning volatility stays high and any upside faces strong resistance above while the market decides whether this was the bottom… or just the pause before the next move.
BTC
70,624.46
+9.43%