Quick #Bitcoin Update

If Bitcoin manages to hold the blue box, there is a good probability of a move toward the 64.7-65K zone.

However, if BTC reaches that area, gets rejected, and then dumps and closes back below 59K, the door opens for a much deeper correction, with sub 49-50K , becoming the first major target.

On the other hand, if we do not see a rejection from 64.7-65K , Bitcoin could continue higher toward the 68.5-69K zone.

In my view, that would also be an attractive area to look for short opportunities.

Overall, Bitcoin still looks weak structurally. Any bounce into these premium zones should be viewed as a potential opportunity to short rather than chase longs.

As I've said before, my long-term outlook remains unchanged: I believe Bitcoin trading below 50K, and potentially even into the 20K–24K region, remains on the table.

Don't get distracted by analysts, influencers, or large accounts calling every bounce a bottom.

Yes, the 50K area is a significant bounce zone and could easily produce a strong relief rally back toward 58K–60K, but a bounce does not automatically mean the downtrend is over. For now, any rally should be treated with caution and a great short opportunity until proven otherwise.