$BTC faces a critical juncture after its recent rally. Over a 4-hour timeframe, key resistance sits near $68,500**. A sustained break above this level, with rising volume, could target **$70,000 and beyond.
However, caution is warranted. The chart shows bearish divergence on the RSI indicator—price made a higher high while momentum weakened. This often precedes a pullback. Immediate support lies at $66,200**. A break below this could see a test of the **$65,000 support zone, aligning with the 50-period moving average.
The next few 4-hour candles are decisive. Bullish Scenario: Hold above $66,200 and reclaim $68,500. Bearish Scenario: Rejection at resistance and a break below $66,200, targeting $65k.
Traders should watch for a convergence of price action at these levels with volume confirmation.
Key Levels:
· Resistance: $68,500
· Support: $66,200 / $65,000
· Bias: Neutral until a clear break occurs.
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