Bitcoin Price Analysis (BTCUSD)
Bitcoin (BTCUSD) has clearly broken the $65,485.00 level, reaching the $64,000.00 barrier and supporting the continuation of the correctional bearish trend. Today, the price starts with a bullish bias to test the broken support, influenced by positive signals from the stochastic indicator. We are awaiting a negative trigger that could push the price to resume its decline, with the next bearish target at $60,330.00.
Key Levels to Watch
Breaking above $65,485.00 and subsequently $66,520.00 will halt the bearish trend and initiate recovery attempts on an intraday and short-term basis.
Expected Trading Range for Today
- Support: $63,000.00
- Resistance: $66,600.00
Trend Forecast: Bearish
Bitcoin is expected to continue its bearish trend, with technical indicators pointing towards further declines unless key resistance levels are breached.
