Bitcoin, Technical Analysis – H4

Bitcoin has left the medium-term ascending channel, which had generated some excessive enthusiasm among investors (but in no way cancelled the short pressure dominating the intraday timeframes from the weekly chart). Now, after a possible retest of the lower boundary of the channel (the $64,400 area), a decline in quotes toward the $62,000 region can be expected.

Key Levels:

□ $64,400

□ $62,000

Primary Scenario:

Pullback to the $64,400 zone, followed by a decline to $62,000.

Alternative Scenario:

Direct decline to $62,000.

Analyst Commentary:

Bears retain control in the crypto market.