Bitcoin, Technical Analysis – H1

The market has refreshed its local low below the key psychological level of $60,000 and subsequently began the traditional squeeze of late short-sellers. The ongoing upward correction is likely targeting the $62,800–$63,200 zone, from which a renewed and more aggressive decline may develop.

Key Levels:

□ $60,000 – psychological support (recent low)

□ $62,000 – nearest round resistance

□ $62,800–$63,200 – primary resistance zone

Primary Scenario:

Rise toward $62,800–$63,200, followed by a sharp reversal to the downside.

Alternative Scenario:

Correction completes at the nearest round level of $62,000 and transitions into a new bearish impulse.

Analyst Commentary:

The current rally lacks strong fundamental catalysts. Therefore, selling pressure is likely to resume from any significant resistance level.