1-Hour (1H) Analysis:

• Current Price: Around 59,895.9 USDT.

• Support Level: The nearest support level is at 58,058.1 USDT (marked in green), where the price previously found some buying interest.

• Resistance Levels:

  • 60,223.1 USDT (10.52% above the support level)

  • 61,693 USDT (2.97% above the current price)

  • 63,130 USDT (5.37% above the current price)

  • 64,862.2 USDT (8.26% above the current price)

The price appears to be in a slight recovery after a drop, but it is still below multiple resistance levels.

4-Hour (4H) Analysis:

For the 4-hour analysis:

• Trend: The overall trend seems bearish in the short term, with a series of lower highs and lower lows.

• Support/Resistance: The key levels in the 1-hour chart will be similar, but with more emphasis on broader trends. We might see these levels hold more significance over multiple 4-hour candles.

Daily Analysis:

For the daily timeframe:

• Trend: The trend is more pronounced, and the support at 58,058.1 USDT is crucial. A daily close below this level could indicate further downside, while a close above 60,223.1 USDT could suggest a potential recovery.

• Key Levels: The resistance levels mentioned in the 1-hour chart remain significant on the daily chart but with more emphasis on 61,693 USDT and 63,130 USDT.

Summary:

• Bullish Scenario: If Bitcoin can break above the resistance at 60,223.1 USDT and hold above it, the next target would be around 61,693 USDT.

• Bearish Scenario: If Bitcoin breaks below the support at 58,058.1 USDT, we could see further downside momentum.

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