Bitcoin has surprisingly dropped to $62,000!
What should we watch next?
Bitcoin is now in the previous support-turned-resistance zone, around $65,000–$66,000.
On the 4-hour chart, a high-volume downward wick just appeared, but the price then bounced back. This suggests there is some buying support below, but it’s still too early to confirm that support has held.
There are two main scenarios to watch:
1. Support holds
If the $65,000–$66,000 zone continues to absorb selling pressure, Bitcoin could make another attempt to climb toward $70,000.
2. Support fails
If the price retests this zone but continues to fail to hold it, the next levels to watch are $60,000 and possibly even $57,000.
For now, the most important thing is to watch how buyers and sellers react in this zone, rather than rushing to guess where the market bottom is.
Until the trend becomes clearer, risk management is always more important than predicting the direction.$BTC
$ETH
What should we watch next?
Bitcoin is now in the previous support-turned-resistance zone, around $65,000–$66,000.
On the 4-hour chart, a high-volume downward wick just appeared, but the price then bounced back. This suggests there is some buying support below, but it’s still too early to confirm that support has held.
There are two main scenarios to watch:
1. Support holds
If the $65,000–$66,000 zone continues to absorb selling pressure, Bitcoin could make another attempt to climb toward $70,000.
2. Support fails
If the price retests this zone but continues to fail to hold it, the next levels to watch are $60,000 and possibly even $57,000.
For now, the most important thing is to watch how buyers and sellers react in this zone, rather than rushing to guess where the market bottom is.
Until the trend becomes clearer, risk management is always more important than predicting the direction.$BTC
$ETH