Bitcoin, Technical Analysis – H4

Despite a solid surge yesterday that helped Bitcoin reclaim the key psychological level of $60,000, the asset still needs to achieve significantly more to establish convincing conditions for a genuine trend reversal. The descending trend line remains intact, and bulls must achieve a clear consolidation above $62,000 to break it. Until that happens, the threat of a renewed sharp decline will continue to loom over the price.

Key Levels:

□ $60,000 (psychological support)

□ $61,000–$62,000 (immediate resistance zone)

□ $62,000 (key trend line level)

Primary Scenario:

Testing the $61,000–$62,000 area, followed by a downward reversal and a decline below $60,000.

Alternative Scenario:

Consolidation and sustained move above $62,000.

Analyst Commentary:

Bearish control remains dominant despite the bullish momentum observed in yesterday’s session.