On Monday, I indicated that there was a significant likelihood of #Bitcoin retesting the "weekend chop zone" at $61,000, and this scenario has indeed materialized. Currently, this level is being upheld as support on the 4-hour chart. However, should this support be breached, the probability of a decline to $59,000—previous week's low—would increase.

For $BTC to gain upward momentum, it must reclaim the resistance level at $62,375, which corresponds to Monday's low. Achieving this could pave the way for a potential rally toward $64,000, reflecting Monday's high.

It's important to note that CPI data will be released in a few hours, which could induce volatility in both directions.

#BTC Price Analysis# #Crypto#