The post Bitcoin Eyes $63K as Failed Retest Signals Deeper Drop appeared on BitcoinEthereumNews.com.

 Bitcoin’s failed retest of a key resistance level has traders watching the $63K demand zone, with bears in control and a deeper flush possible below that floor. Bitcoin’s attempted breakout has run into serious trouble. The coin broke above a critical resistance level, tried to retest it from above, and got rejected. That sequence has traders shifting their stance. Crypto analyst DamiDefi, on X, put it plainly. BTC broke above what he calls the yellow line, then came back to retest it. The retest failed. Price is now trading under that level again on closes, and he says that changes everything. “That’s not breakout confirmed behavior,” DamiDefi wrote. “That’s a classic breakout attempt, retest, rejection, which usually means we slip back into the range.” Rallies Are Just Noise Until Proven Otherwise His view from here is simple. Bearish until the market proves different. Any rally while BTC stays under that line on daily closes is just a relief bounce, he says. The real target the chart is pointing at is the $63K base, or what he describes as the gray demand zone. That $63K area is now the key magnet. Not the upside. The downside. DamiDefi also laid out what happens if that level breaks down on real closes. The chart then starts pointing toward a deeper flush, he said, without putting a hard number on the next support. The thesis is intact. The invalidation is a confirmed reclaim of the yellow line with closes above it. This kind of analysis from DamiDefi is not new. His previous call on the BTC $69K to $72K support range proved accurate as price broke down through that zone in February. Coinbase Still Selling, No Spot Inflow in Sight Trader JunarXBT, also on X, painted a similar picture but added institutional context. His…

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Filed under: News - @ March 28, 2026 10:03 pm