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Bitcoin (BTCUSD) Price Analysis
Bitcoin (BTCUSD) is currently trading below the broken neckline of a double top pattern, indicating a bearish trend. The stochastic indicator is showing negative overlap, suggesting that further declines are likely. The initial target is breaking $65,485, which would confirm a move towards the next target of $60,330.
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The bearish trend is expected to continue as long as the price remains below $67,080, emphasizing the importance of holding this level to maintain the downward momentum.
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Expected Trading Range
- Support: $64,000
- Resistance: $67,500
Trend Forecast: Bearish
