Breaking the daily resistance at $63,000
Updated
Bitcoin was precisely rejected from the weekly downtrend at the $66,000 level and moved towards the daily support at $60,000, where we had previously predicted strong support, and this scenario unfolded exactly as expected. Bitcoin found support at this level and has since rebounded upwards.
Currently, the price is on the verge of breaking the daily resistance at $63,000. If this level is successfully broken, the previously anticipated target of $72,000 will come into reach. The current resistance level stands at $63,400.
Currently, the price is on the verge of breaking the daily resistance at $63,000. If this level is successfully broken, the previously anticipated target of $72,000 will come into reach. The current resistance level stands at $63,400.
Note
Bitcoin was on the verge of breaking the key daily resistance at $63,400 but failed to push through, as the strength of this resistance overwhelmed the buyers. This reflects the significant power of this level. Currently, Bitcoin is moving towards the 4-hour support and correction zone. We anticipate that support will form in this area, and Bitcoin will attempt another push to break the daily resistance.Trade active
Bitcoin was rejected from the daily resistance at $63,400 and has now returned to the daily support level. In yesterday’s 4-hour analysis, we expected the 4-hour support to hold and for the price to bounce back towards $63,400, but that did not occur. Now, we expect the daily support to hold, and with price stabilization in this area, Bitcoin will gradually move toward retesting the $63,400 resistance.
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