Will Bitcoin Breach $62,000 Level or Fall Again?

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After a strong 3.7% of green 4-hour engulfing candle, Bitcoin (BTC) once again reached its crucial level near $62,000. However, this is the fifth time BTC has reached this level in the last 15 days, and each time it has faced massive selling pressure, resulting in a significant drop in BTC’s value

Bitcoin’s Upcoming Levels

This time, BTC’s daily candle closing will be crucial in determining its upcoming momentum, whether it will repeat the history or breach this $62,000 resistance. According to expert technical analysis, BTC looks bearish as it started falling from that crucial level. Looking at the current market sentiment, there is a high possibility BTC will again fall to $59,000 and $58,000 levels in the coming days.