$BTC Updated technical analysis of Bitcoin's (BTC) price movement, focusing on support and resistance levels. Here's a breakdown of our points:
_Key Support Levels:_
- $65.5k : Previously acted as support, now broken - May The Price Retest $65.5k Level again. - $63.5k: Previous week's low, currently acting as support from Today Price is Bounced from Last 8h.
_Current Situation:_
- BTC has bounced from the $63.5k area - This level needs to hold to maintain the range lows i.e 62k 61k
_Possible Scenarios:_
- If $63.5k holds: - Potential move back to $65.5k (previous support, now resistance) - Expect resistance at $65.5k - If $63.5k is break: - Increased chance of a retest closer to $61k Level.
_Conclusion:_
- New month, opportunity for a fresh start
our analysis highlights the importance of the $63.5k support level and the potential consequences of losing it. You guys also keep an eye on the $65.5k level, which has flipped from support to resistance.
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