Looking at the #BTC chart, buyers do not appear eager. The price might continue to rise merely as a rebound from the recent decline; however, if it fails to hold above the 61,980 level on the 4-hour chart, another drop could follow. 4-hour closes above 61,980 could begin to shift market sentiment to positive.
If the price manages to sustain a position above the 67,500 level during an upward move, it would signal a continuation of the rally.
If the weekly close falls below the 60,000 mark again, the decline could extend toward the 49,000–50,000 support levels.
If the price manages to sustain a position above the 67,500 level during an upward move, it would signal a continuation of the rally.
If the weekly close falls below the 60,000 mark again, the decline could extend toward the 49,000–50,000 support levels.