Bitcoin Technical Analysis – H4
Bitcoin is probing resistance at $65,200–65,550, with a secondary supply zone at $66,500 still possible. In either scenario the key support target sits at $62,500.
BTC is testing a complex resistance area at $65,200–65,550, where the bulls’ potential for further corrective upside may be exhausted. However, another important supply zone remains overhead at $66,500. A test of this level cannot be ruled out, yet it would likely represent the upper limit of buyers’ ambitions within the current medium-term advance.
Key Levels:
□ $62,500 — Support
□ $65,200–65,550 — Resistance
□ $66,500 — Supply zone / Resistance
Primary Scenario:
Reversal lower from the $65,200–65,550 zone.
Alternative Scenario:
Advance toward $66,500, followed by a reversal lower.
Analyst Commentary:
In both cases the downside target for selling remains the $62,500 support zone.
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.