**Bitcoin Analysis : Will Bitcoin Rise or Fall This Week?**
As we step into the new week, Bitcoin's price movement is beginning to paint a clearer picture. After a day of volatility, the indicators across different timeframes are starting to align, offering some insight into the potential direction for Bitcoin.
On the shorter timeframes, the 1-hour (H1) and 4-hour (H4) charts suggest that we might see a slight recovery in Bitcoin's price. However, this rebound seems likely to be short-lived, potentially leading into a deeper decline.
When looking at the 6-hour (H6) and 8-hour (H8) timeframes, the analysis indicates that Bitcoin may be heading towards a new low, with prices possibly bottoming out around the $61.000 level. This could set the stage for strategic trading opportunities in the coming days.
Given these insights, one might consider a short position in the $63,800-$64,000 range, anticipating a downward movement. Alternatively, traders could wait for Bitcoin to hit the support zone around $61,000 to place a long position, potentially capitalizing on a rebound from that level.
As always, it's essential to remain vigilant and flexible, adapting to the market's movements as new information becomes available.$BTC