BITCOIN / Consolidation and Key Levels in Focus

Bitcoin Technical Analysis

The price reached our target as we mentioned in the previous idea, was dropped from 64900 to 59900 our last bearish target

• Current outlook:
  The price will consolidate between 62400 and 59940 till breaking,
  
  
• Bearish Scenario:
  As long as the price remains below 62410, the bearish trend is expected to continue, with the first target at 59940. A break below this level could lead to the next bearish target of 56810.
  
  
• Bullish Scenario:
  For a bullish reversal, the price needs to stabilize above 62410, aiming for 64900. If the price moves above this level, the uptrend could extend towards 70,000.
  
  
• Key Levels:
  - Pivot Line: 62400
  - Support Levels: 59940, 56600, 52800
  - Resistance Levels: 64900, 67200, 70000
  
  
• Expected Range:
  The anticipated movement range for Bitcoin is between support 56900 and 63200, with a bearish tendency.
  
  Previous idea:
  
  

Commentaire:

still, the price consolidates between this zone we mentioned
breaking 59900 means will drop more to get the prices we mentioned in the chart