Bitcoin, Technical Analysis – H1

The medium-term structure remains bullish for now, with consistently higher local lows and renewed highs. However, sellers continue to exert pressure on higher timeframes, meaning bulls face a challenging task in achieving another all-time high. Failure to do so could signal a shift to a downtrend on the hourly chart as well, followed by a breakdown of supports spaced roughly $1,000 apart ($64,500, $63,500, $62,500).

Key Levels:

□ $66,000 (key resistance / buyer fatigue zone)

□ $64,500 (first major support)

□ $63,500 (secondary support)

□ $62,500 (deeper support level)

Primary Scenario:

Buyer exhaustion near $66,000, followed by a decline toward $64,500, with further targets at $63,500 and $62,500.

Alternative Scenario:

A decisive breakout above $67,000.

Analyst Commentary:

The primary scenario appears significantly more probable.