Bitcoin Consolidation: Key Levels to Watch for in the Cryptocurrency Market

Bitcoin Technical Analysis

Current Outlook

The price will consolidate between 62400 and 59940 till breaking.

Bearish Scenario

As long as the price remains below 62410, the bearish trend is expected to continue, with the first target at 59940. A break below this level could lead to the next bearish target of 56810.

Bullish Scenario

For a bullish reversal, the price needs to stabilize above 62410, aiming for 64900. If the price moves above this level, the uptrend could extend towards 70,000.

Key Levels

- Pivot Line: 62400
- Support Levels: 59940, 56600, 52800
- Resistance Levels: 64900, 67200, 70000

Expected Range

The anticipated movement range for Bitcoin is between support 56900 and 63200, with a bearish tendency.