Bitcoin, Technical Analysis – H1
The asset continues to consolidate below the critical $62,000 level, which serves as a key battleground for both bears and bulls.
The asset continues to consolidate below the critical $62,000 level, which serves as a key battleground for both bears (who currently control the broader trend) and bulls attempting to regain momentum. Sellers retain the stronger technical case, as no clear and sustainable bullish reversal signal has yet formed. Buyers, however, are supported by positive news regarding net inflows into U.S. spot Bitcoin ETFs.
Key Levels:
□ $62,000
□ $61,000
□ $60,000
Primary Scenario:
Downward reversal from $62,000, with a decline toward $61,000 and subsequently $60,000.
Alternative Scenario:
Continued consolidation around current levels, which would act as an additional bullish factor for the upcoming trading sessions.
Analyst Commentary:
If the bearish scenario plays out, sellers’ medium-term targets will lie below the most recent swing low.
Nikolai Krishtopov is a Market Analyst at Investizo with more than 15 years of experience in the financial markets industry and over a decade of trading experience. His areas of focus include forex and crypto markets, technical analysis, intraday trading and market behaviour.