Bitcoin, Technical Analysis – H1

Bitcoin is in the final stage of a local consolidation and is highly likely to lose support in the $65,600 zone. This breakdown should trigger a relatively swift decline toward the $64,000 area.

Key Levels:

□ $65,600 — critical support

□ $65,000 — intermediate support

□ $64,000 — primary downside target

Primary Scenario:

Breakdown of the $65,600 level followed by a decline toward $65,000 and ultimately $64,000.

Alternative Scenario:

Continued consolidation around the $65,600 zone.

Analyst Commentary:

Bulls will find it extremely difficult to invalidate this bearish setup, as they currently appear weak and lack conviction under the prevailing market conditions.