BITCOIN 4H CHART UPDATE
Bitcoin is attempting to stabilise after breaking below the previous range, currently trading around $63,000.
The short-term structure remains cautious, with BTC still below the key $64,000 support/resistance flip level.
KEY LEVELS AT A GLANCE
• Current Price: $63,000
• Immediate Support: $63,000
• Key Resistance: $64,000
• Major Resistance: $65,700
• Lower Range Support: $61,000
WHAT THE CHART IS TELLING US
Bitcoin has been rejected from the $65K area and has since lost the $64,000 support zone, turning it into overhead resistance.
The recent move lower has brought BTC back to the $63,000 region, which is now the first important level bulls need to defend.
Holding this area would allow buyers to attempt a recovery back towards $64,000.
However, losing $63,000 would open the door for a deeper move towards the $61,000 low-range support zone.
TACTICAL LEVELS TO WATCH
• Bullish scenario
BTC reclaims $64,000 and turns it back into support. This would open a move towards $65,700 resistance.
• Bearish scenario
BTC fails to hold $63,000, increasing the probability of a retest of the $61,000 support area.
TAKEAWAY
Bitcoin is currently sitting at a decision point.
The market has not broken down completely, but bulls need to reclaim $64,000 to regain short-term control.
Until then, resistance remains overhead and sellers are still in control of lower timeframe momentum.
The key battle zone is clear:
$63,000 support vs $64,000 resistance.
The next major move is likely to come once one of these levels breaks.
Bitcoin is attempting to stabilise after breaking below the previous range, currently trading around $63,000.
The short-term structure remains cautious, with BTC still below the key $64,000 support/resistance flip level.
KEY LEVELS AT A GLANCE
• Current Price: $63,000
• Immediate Support: $63,000
• Key Resistance: $64,000
• Major Resistance: $65,700
• Lower Range Support: $61,000
WHAT THE CHART IS TELLING US
Bitcoin has been rejected from the $65K area and has since lost the $64,000 support zone, turning it into overhead resistance.
The recent move lower has brought BTC back to the $63,000 region, which is now the first important level bulls need to defend.
Holding this area would allow buyers to attempt a recovery back towards $64,000.
However, losing $63,000 would open the door for a deeper move towards the $61,000 low-range support zone.
TACTICAL LEVELS TO WATCH
• Bullish scenario
BTC reclaims $64,000 and turns it back into support. This would open a move towards $65,700 resistance.
• Bearish scenario
BTC fails to hold $63,000, increasing the probability of a retest of the $61,000 support area.
TAKEAWAY
Bitcoin is currently sitting at a decision point.
The market has not broken down completely, but bulls need to reclaim $64,000 to regain short-term control.
Until then, resistance remains overhead and sellers are still in control of lower timeframe momentum.
The key battle zone is clear:
$63,000 support vs $64,000 resistance.
The next major move is likely to come once one of these levels breaks.