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Bitcoin (BTCUSD) ended yesterday’s session with a notable decline, settling below $60,326.70. This positions the cryptocurrency under expected negative pressure for the upcoming sessions, with an initial target set at $56,160. A break below this level could lead to further losses, potentially reaching around $51,990.
However, if Bitcoin manages to breach and maintain a position above $60,326.70, it could reverse the current bearish trend and initiate recovery efforts, with an initial target of $62,600.
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Today’s anticipated trading range is between $57,000 for support and $61,000 for resistance.
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Trend Forecast: Bearish
