BTCUSD price fell below the 60K level after another failure to extend the recovery from the new 2026 low (57992) and recording a strong breakout above the psychological barrier.
The near-term structure (hourly chart) has shown some signs of strength that have strengthened expectations for a recovery above congestion in the last few sessions.
However, hopes have been short-lived so far as the bigger picture remains strongly bearish (daily chart) keeping barriers at the 61300/600 area (10DMA/Fibo 38.2% down from 67250/57992/200WMA) out of reach.
The risk of a retest of the 2026 low (57992) and nearby Fibonacci support at 57816 (61.8% of 15485/126299) should be expected to increase if the price registers another close below 60K, with a lower breakout to indicate a continuation of the larger downtrend and reveal next targets at 52500 (September 2024 low) and 50K (psychological).
Accuracy: 60000; 60829; 61300; 61600
sip: 59000; 57992; 57816; 56427
