Bitcoin, Technical Analysis – H4

Bitcoin continues to exhibit a classic stepped descending structure. The current upward correction lacks any meaningful bullish signals (apart from the psychological $60,000 level, which sellers breached relatively easily yesterday). Consequently, the corrective move is likely to exhaust in the $61,500–$62,000 zone, followed by a resumption of the bearish trend toward a new swing low below the most recent local minimum near $58,000.

Key Levels:

□ $61,500–$62,000 (resistance / correction target)

□ $60,000 (psychological level)

□ $58,000 (key support / next downside target)

Primary Scenario:

Correction toward $61,500–$62,000, followed by a decline toward $58,000.

Alternative Scenario:

Immediate decline from current levels.

Analyst Commentary:

Bulls are desperately defending levels they consider critical, yet the overall picture remains distinctly unfavorable for them.