[Bitcoin Price Prediction: No Breakout or Bloodbath Confirmed, Price Falls Below $66,000]

Analyst Josh said in Crypto World that Bitcoin is currently retesting a key support area and showing a short-term bullish divergence, signaling more liquidations to come. When discussing the current state of Bitcoin, Josh mentioned some key technical indicators and potential market movements. After an explosive rally, Bitcoin is currently struggling to break above $70,000 levels.

Looking at Bitcoin’s 4-day chart, Josh says the Bollinger Bands are tightening, suggesting a major move could occur in the coming weeks, possibly between 20% and 30%. The Bollinger Bands Width indicator is still moving sideways, which means this major move has not yet begun. Overall, Bitcoin remains within a broad range of sideways movement, but the overall trend is bullish, similar to the pattern observed in mid-2023.

On the 3-day chart, Bitcoin is showing a potential inverted head and shoulders pattern, which could lead to bullish price targets towards $86,000 to $87,000. However, for this pattern to be confirmed, Bitcoin would need to quickly move towards the neckline around $71,700 and close above $73,000 to $74,000 with a 3-day candlestick.

On the daily chart, Bitcoin is retesting a key area between $67,000 and $68,000, an area with significant volume and resistance. To turn bullish in the short term, Bitcoin must break out and hold above $68,000. Otherwise, it could face continued resistance and a potential short-term pullback.

If Bitcoin is rejected at this resistance level, there is significant support between $63,000 and $64,000. The Volume Profile indicator shows a gap in volume between $66,000 and $64,000, suggesting that if $66,000 is breached, price could quickly move between these levels.

While the Bitcoin chart shows low volatility, it also shows a short-term bullish divergence, which could lead to a slight bullish rebound targeting the liquid zone between $67,300 and $67,900. However, a confirmed break above $68,000 is needed to end the current pullback and resume bullish momentum.

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