bullish

Bitcoin

Resistance

<p>Analysts are signaling a critical moment for Bitcoin, with warning signs flashing on its charts. As Bitcoin attempts to retest crucial support levels, it faces potential liquidation. According to <a href="https://www.youtube.com/watch?v=UpT3Y_SL03g" target="_blank" rel="noreferrer noopener nofollow">analyst Josh of Crypto World,</a>&nbsp; the <a href="https://coinpedia.org/price-prediction/bitcoin-price-prediction/" target="_blank" rel="noreferrer noopener">Bitcoin market</a> is currently in a precarious position, with key support levels holding but facing pressure from bearish indicators.&nbsp;</p>   
<h2 class="wp-block-heading" id="h-bitcoin-chart-overview"><strong>Bitcoin Chart Overview</strong></h2>   
<h3 class="wp-block-heading" id="h-four-day-analysis"><strong>Four-Day Analysis</strong></h3>   
<p>Looking at the four-day Bitcoin chart, the Super Trend indicator remains in the red, indicating bearish momentum. This aligns with the broader trend we've observed over the past six months.</p>   
<h3 class="wp-block-heading" id="h-two-day-trend"><strong>Two-Day Trend</strong></h3>   
<p>On the two-day chart, Bitcoin is trapped within a descending broadening wedge pattern, which suggests a longer-term bearish trend. To shift this trend into a bullish phase, Bitcoin needs to break above the resistance line around $66,000, ideally reaching $67,000 to $68,000.</p>   
<h2 class="wp-block-heading" id="h-support-and-resistance-levels"><strong>Support and Resistance Levels</strong></h2>   
<p>Currently, Bitcoin is retesting significant support between <a href="https://coinpedia.org/price-analysis/bitcoin-is-stuck-at-62300-while-65000-remains-the-key-area-to-break-heres-whats-next/" target="_blank" rel="noreferrer noopener">$60,200 and $61,200</a>. If it breaks below $60,000 with a daily candle close, the next support levels are $59,500 and $58,000. Further downside could bring us to $56,000 to $57,000.</p>   
<p>Should Bitcoin bounce off the current support, short-term resistance is expected around $63,000, with stronger resistance at $64,200 to $64,500. Even if Bitcoin breaks this resistance, we would still encounter strong barriers at $67,000 to $68,000.</p>   [post_titles_links postid="363021"]   
<h2 class="wp-block-heading" id="h-liquidation-heat-map"><strong>Liquidation Heat Map</strong></h2>   
<p>Recent market activity has seen the liquidation of positions between $61,300 and $61,700. Currently, Bitcoin is approaching a significant liquidity zone just below $60,000, which could be a target for further price action. If we see continued bearish momentum along with rising DXY, it could lead to more liquidations.</p>

Bitcoin Price Prediction: What a Dip Below $60,000 Could Indicate Now?

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