Bitcoin Technical Analysis – H1

Price has approached a highly challenging resistance zone at $64,500–64,700, where a dense supply area was previously formed. There is a strong probability of renewed selling pressure and a subsequent decline toward the $63,000 area.

On the other hand, a successful breakout by the bulls through this difficult barrier would sharply alter the current technical picture.

Key Levels:

□ Resistance $65,500

□ Resistance $64,500–64,700

□ Support $63,000

Primary Scenario

Test of the $64,500–64,700 zone, followed by a sharp reversal lower.

Alternative Scenario

Breakout toward $65,500.

Analyst Commentary:

Positional advantage remains with the bears.