Bitcoin Price Trend Analysis: Critical Support Level Faces Threat
The recent price action of Bitcoin has made investors nervous. Despite the recent gains in Bitcoin, the break below $65,000 still highlights a critical threshold. According to the weekly chart, Bitcoin is oscillating around $64,000, which is a potential risk area. As the price of Bitcoin hovers below the key level, a downward trend may occur.
Bitcoin loses support and faces potential downside. Bitcoin has lost the intermediate support level of $66,500, and the support level of $64,000 is under significant threat. If Bitcoin wants to regain its upward momentum, it is crucial to regain $66,500, and then it is crucial to target the top of the range at $73,000.
Currently, Bitcoin is showing indecision and may be in a downward trend, with $64,000 being a key support level. A break above this level could send Bitcoin towards the bottom of the $60,000 range.
The current Bitcoin market situation is complex, with key support level threats and historical market dynamics particularly prominent. While short-term trends appear uncertain, we should remain patient and focus on fundamentals rather than short-term price fluctuations.
Personal opinions, for reference only, follow Sanzang, and share real-time work. $BTC
