Bitcoin, Technical Analysis – H4

Bitcoin predictably reversed lower yesterday after testing the strong pivot zone around $67,400. Bears have now also formed a more local reversal on the hourly timeframe. We expect the development of a bearish swing from the $66,500 area, with initial targets at $64,500 and $64,000.

Key Levels:

□ 67,400 (strong pivot resistance)  

□ 66,500 (key support / swing origin)  

□ 64,000 (primary downside target)

Primary Scenario:

Test of the $66,500 zone, followed by a decline toward $64,000.

Alternative Scenario:

Consolidation around the $66,500 level.

Analyst Commentary:

Bitcoin remains highly sensitive to fast-moving news from the Middle East, underscoring the continued dominance of institutional demand over retail participation.