Bitcoin, Technical Analysis – H1

The bulls failed to push Bitcoin outside the broad horizontal range, demonstrating noticeable weakness near its upper boundary. If they cannot generate a convincing upward impulse from the local pivot around $62,700, the price will likely collapse toward $61,200 with high probability.

Key Levels:

□ $61,200 — Primary support

□ $62,700 — Local pivot / resistance

□ $64,000 — Local high

Primary Scenario:

Decline to $61,200.

Alternative Scenario:

Bounce from $62,700 followed by an attempt to renew the local high near $64,000.

Analyst Commentary:

Additional clarity will come from Bitcoin’s actual reaction at the $62,700 level.