💰 #BTC — An overview of Bitcoin’s price action over the coming hours
Price at the time of analysis: $69,369
So far, the downtrend remains dominant on the hourly timeframe, and Bitcoin has been unable to reclaim its position above the EMA30, reflecting continued weakness in buying momentum.
The latest rebound remains limited, particularly with overbought signals appearing on the Stochastic indicator, alongside continued negative liquidity flows. This means selling pressure is still present.
The 69,300 area does have clear buying demand, but the increase in long positions raises the likelihood of further liquidations if the price loses this support—especially with traders heavily crowded on the same side.
📉 Expected scenario:
For now, the most likely outcome is continued sideways movement within a narrow range, before a move toward one of two paths:
- Bearish scenario: A break below the 69,000–69,300 area, followed by a move to test the previous low at $67,449.
- Rebound scenario: A corrective rise toward $70,200–$70,700, an important area where we may see a resistance retest and new selling opportunities emerge.
Support levels:
- 69,000–69,300: Immediate support.
- 67,449: Previous low.
Resistance levels:
- 70,200–70,700: Supply zone to watch for selling opportunities.
For now, we prefer not to rush into a trade. We’ll wait for the price to reach the resistance zone, monitor buyers’ and sellers’ behavior, and look for a short entry with suitable confirmation.
#btc $BTC
Price at the time of analysis: $69,369
So far, the downtrend remains dominant on the hourly timeframe, and Bitcoin has been unable to reclaim its position above the EMA30, reflecting continued weakness in buying momentum.
The latest rebound remains limited, particularly with overbought signals appearing on the Stochastic indicator, alongside continued negative liquidity flows. This means selling pressure is still present.
The 69,300 area does have clear buying demand, but the increase in long positions raises the likelihood of further liquidations if the price loses this support—especially with traders heavily crowded on the same side.
📉 Expected scenario:
For now, the most likely outcome is continued sideways movement within a narrow range, before a move toward one of two paths:
- Bearish scenario: A break below the 69,000–69,300 area, followed by a move to test the previous low at $67,449.
- Rebound scenario: A corrective rise toward $70,200–$70,700, an important area where we may see a resistance retest and new selling opportunities emerge.
Support levels:
- 69,000–69,300: Immediate support.
- 67,449: Previous low.
Resistance levels:
- 70,200–70,700: Supply zone to watch for selling opportunities.
For now, we prefer not to rush into a trade. We’ll wait for the price to reach the resistance zone, monitor buyers’ and sellers’ behavior, and look for a short entry with suitable confirmation.
#btc $BTC