Bitcoin, Technical Analysis – H4
Bitcoin is currently in a consolidation phase ahead of a likely continuation of the medium-term downtrend.
Bitcoin is currently in a consolidation phase ahead of a likely continuation of the medium-term downtrend. Bulls have no convincing arguments for a trend reversal to the upside. Once the sloping support in the $63,000–63,500 zone is breached, bearish momentum could accelerate significantly.
Key Levels:
□ $63,000 (key support)
□ $63,500 (sloping support)
□ $64,500–65,000 (resistance zone)
Primary Scenario:
Continuation of consolidation within the $63,500–65,000 range.
Alternative Scenario:
Breakdown and decline toward $63,000.
Analyst Commentary:
Short positions from the $64,500–65,000 zone appear attractive in the medium term.
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.