Bitcoin, Technical Analysis – H4

Despite a partial recovery from the psychologically important support at $60,000, the Bitcoin market remains in a depressed state. The price failed to break and hold above the $67,500 level. Consequently, the more probable scenario is a renewed decline toward the $61,000 area, where the bulls’ real strength in defending this zone will become clear.

Key Levels:

□ $60,000 — strong psychological support

□ $61,000 — near-term downside target

□ $63,500–$65,000 — consolidation zone

□ $67,500 — key resistance

Primary Scenario:

Initiation of a new decline toward $61,000.

Alternative Scenario:

Continued consolidation within the $63,500–$65,000 range.

Analyst Commentary:

The leading advocate for Bitcoin on the bullish side, Michael Saylor, has announced fresh purchases of Bitcoin for MicroStrategy’s balance sheet. This development has the potential to provide additional market support.