Bitcoin, Technical Analysis – H4
Bears predictably demonstrated strength at the first significant psychological resistance level of $65,000.
Bears predictably demonstrated strength at the first significant psychological resistance level of $65,000. The asset is now expected to decline at least to $62,500, where a strong support level is located. Further downside targets could be $60,500 and $60,000.
Key Levels:
□ $65,000 (resistance)
□ $62,500 (key support)
□ $60,500
Primary Scenario:
Decline toward $62,500.
Alternative Scenario:
Deeper correction toward $60,500.
Analyst Commentary:
Bitcoin remains under pressure established on the higher timeframes.
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.