Reached $BTC
the target set overnight at $64,000, but faced immediate rejection from the resistance zone, causing the price to retreat and trade close to $63,000.
📉 Bearish Scenario:
As long as the $64,000 level holds as resistance and isn't clearly breached, the likelihood of a continued correction towards the support zone between $61,000 and $60,000 remains the most probable scenario.
📈 Condition for Continued Upswing:
To confirm the bullish trend, a 4-hour candlestick close above the $64,000 level is required. Only then can we expect an extension of the move towards the next major resistance at $67,000.
Until a clear and confirmed breakout happens, the baseline scenario remains a continued technical pullback from current levels.
the target set overnight at $64,000, but faced immediate rejection from the resistance zone, causing the price to retreat and trade close to $63,000.
📉 Bearish Scenario:
As long as the $64,000 level holds as resistance and isn't clearly breached, the likelihood of a continued correction towards the support zone between $61,000 and $60,000 remains the most probable scenario.
📈 Condition for Continued Upswing:
To confirm the bullish trend, a 4-hour candlestick close above the $64,000 level is required. Only then can we expect an extension of the move towards the next major resistance at $67,000.
Until a clear and confirmed breakout happens, the baseline scenario remains a continued technical pullback from current levels.