Bitcoin recently broke out, but now faces a retest of key support levels, suggesting potential trend changes.
Current Situation Analysis
According to Crypto World's analysts, Bitcoin's recent breakout may signal a turning point. The main question now is whether the price can stay above key support levels. The 4-day chart remains red on the Super Trend indicator, while the 3-day chart has flipped green with a confirmed bullish signal. For long-term bullish confirmation, Bitcoin needs to close above approximately $71,600.
Key Price Levels
Market attention is focused on support in the $65,000 to $66,000 range. Holding above this level may confirm the bullish trend. However, daily or two-day candle closes below this range could lead to a retracement towards the lower $60,000s. * Critical Support: $65,000 - $66,000 * Potential Resistance: $68,300
Bearish Divergence and Liquidation Map
Recent price action has revealed a bearish divergence characterized by higher highs in price and lower highs in the RSI. This pattern often precedes a short-term pullback. It's crucial to be vigilant near critical support levels, especially around the $66,000 mark. Recent liquidations have cleared upside liquidity above $69,000, targeting potential support levels below this range. The next important liquidity level appears to be around $66,500, followed by $64,700.
Bitcoin stands at a critical juncture, and its ability to hold critical levels will determine the trend's future direction.