Hello Traders, Bitcoin (BTCUSD) is currently undergoing a significant correction, breaking below key support levels as market sentiment remains cautious. With the price hovering near $62,600, we are looking at potential structural shifts on the 1-hour timeframe. 📊 Technical Breakdown: Current Trend: The market is exhibiting strong bearish momentum, with a clear breakdown of previous consolidation ranges. Immediate Support: The current price level around $62,600 is being tested; a failure to hold this could trigger further downside. Extreme Demand Zones: We are monitoring the $60,000–$61,000 range as a primary point of interest (POI) for a potential institutional liquidity grab and structural stabilization. 🎯 The Trade Plan: We are looking for signs of exhaustion before attempting any long entries. Scenario 1 (Immediate Bounce): If the price establishes support here, we may see a short-term relief rally back toward the $64,000–$65,000 resistance. Scenario 2 (Deep Liquidity Sweep - Higher Probability): A further dip toward the $60,000 psychological support level is preferred. We are waiting for a clear Change of Character (CHoCH) on the lower timeframes (5M/15M) at this level before looking for long setups. 💡 Pro Execution Tip: In this bear-dominated environment, do not "catch a falling knife." Wait for price to reach our discount zones and confirm a structural shift. Always prioritize risk management over entry speed. If you find this price action analysis helpful, please LIKE this idea and FOLLOW for more updates! What is your outlook for BTC this week? Let me know in the comments below. Disclaimer: This analysis is for educational purposes only and does not constitute financial advice. Always trade with proper risk management.