**Bitcoin Price Threatened to Drop Again, What's Up Investors?**

Hello, crypto warriors! 🪙

- **Daily Analysis**: Bitcoin price has just bounced off the $60K support level after dropping below $64K and the 200-day moving average. But, unfortunately, this level is still a barrier to price increases. If BTC fails to break through this average, get ready, it could drop to $56K in the near future.

- **4-Hour Chart**: On the 4-hour chart, BTC had risen in a narrow channel but broke down yesterday. Based on classic price action, a drop to $60K or lower is very likely. However, the RSI is still around 50%, so there is still a slim hope of rising to $64K.

- **On-Chain Analysis**: Bitcoin miners have been selling diligently since the price broke through $40K. Their BTC reserves continue to decline, indicating that they are selling more than holding. If this continues, the market could be flooded with supply and prices could fall further.

What do you think? Come on, share your opinion in the comments column!