Course forecast #Bitcoin ( $BTC )
Analysis and Forecast:
Current price:
Bitcoin is trading at $67,550 with a correction of -2.90% over the last 24 hours.
Support and Resistance:
Key support levels: $65,298 and $63,461 (indicated by green arrows). These levels can act as zones where the price finds support and stops the decline. Key resistance levels: $71,166 and $74,446 (indicated by orange lines). A break through these levels could open the way for further price growth.
Fibonacci corrections:
Major Fibonacci levels: 0.5 ($63,763) and 0.618 ($62,309) represent important correction levels where the price may find support if the downward movement continues.
Trend Lines:
A downtrend line (indicated by a red arrow) intersecting with an uptrend line (indicated by a black arrow) can signal a possible continuation of the downtrend if the price does not hold above these levels.
Indicators and Oscillators:
The RSI indicator shows that the price is in an area close to oversold, which may signal a possible reversal in the near future. Moving Averages indicate the possibility of price stabilization around current levels.
Trading volumes:
Trading volumes on the chart indicate that there is significant activity, especially in the support zone, which may indicate that the bulls are trying to keep the price above $65,000.
Forecast:
Bullish scenario: If the price successfully holds above $65,000, an upward movement to the levels of $71,166 and $74,446 is possible. A breakout of these levels could open the way to targets at $80,000 and above. Bearish Scenario: In the event of a downside breakout of the $65,000 and $63,461 levels, a decline to lower support levels around $60,000 and $57,000 is likely.
Conclusion:
The situation on the chart indicates an important decision point for the market. Maintaining key support levels will be critical to continued growth. While a downside breakout could strengthen bearish sentiment and lead to further declines.
![](https://public.bnbstatic.com/image/pgc/202406/aeb4ec052f35bdf3323bb3aeff33d6e3.png)