Bitcoin, Technical Analysis – H4

Bitcoin remains fragile and continues to dismantle the myth of being a “safe-haven asset” and reliable “store of value.” Following Donald Trump’s comments on a new wave of escalation regarding Iran, the price immediately dropped below $62,000.

The technical picture stays firmly bearish: the recent rally lacked any reversal setup and should therefore be viewed only as a corrective move within the broader downtrend. With the local trendline already broken, a fresh wave of selling from the $62,700 zone toward the strong support at $58,400 is the most probable development.

Key Levels:

□ $62,700 (resistance)

□ $61,000

□ $60,000

□ $58,400 (strong support)

Primary Scenario:

Test of $62,700, followed by a downward reversal toward $61,000, with further targets at $60,000 and $58,400.

Alternative Scenario:

Direct decline from current levels.

Analyst Commentary:

Speculative and psychological factors remain dominant in the market. Consequently, any credible statements signaling de-escalation could quickly invalidate the bearish scenarios.