Bitcoin, Technical Analysis – H1

Bitcoin lacks a clear directional bias in the medium-term timeframes. As a result, bulls are likely to face strong selling pressure at the $63,400 resistance zone, where multiple technical levels converge. We expect a test of this area followed by a renewed move lower into a bearish swing.

Key Levels:

□ $63,400 – Key resistance cluster

□ $62,700 – Immediate support

□ $64,000 – Next major resistance on breakout

Primary Scenario:

Rise toward $63,400, followed by a reversal and decline to $62,700.

Alternative Scenario:

Breakout above $63,400 with follow-through toward the $64,000 region.

Analyst Commentary:

On a longer-term basis, Bitcoin remains technically weak and continues to trade under the influence of prevailing short sentiment.