bullish

World

Bitcoin

Reversal

Divergence

<p>As Bitcoin tests critical levels, there's potential for a shift from bullish to bearish momentum. This level, which previously acted as resistance, is now expected to serve as support. If Bitcoin can maintain its position above this critical level—around $65,000 to $67,000—it could mean a continued bullish trend. However, a confirmed break below this threshold, especially with a candle close on the 2-day chart, would mean a bearish reversal and impact <a href="https://coinpedia.org/price-prediction/bitcoin-price-prediction/" target="_blank" rel="noreferrer noopener">Bitcoin price prediction</a>.</p>   
<p><a href="https://www.youtube.com/watch?v=UqhfhG7T0Hc" target="_blank" rel="noreferrer noopener nofollow">Analyst Josh of Crypto World</a> said that in the daily chart, Bitcoin has slipped below a previous resistance range of approximately $66,800 to $68,300. The next major support area to watch is between $64,100 and $64,500. If Bitcoin fails to hold above this support, it could drop further to $63,000 or potentially down to the $60,000 to $61,000 range.</p>   
<h2 class="wp-block-heading" id="h-effects-of-breakout-and-invalidation"><strong>Effects of Breakout and Invalidation</strong></h2>   
<p>Should Bitcoin break below the $65,000 mark, it would suggest that the recent breakout was a false move, or "fake-out," lacking follow-through. This would invalidate the bullish breakout that occurred about a week ago, raising concerns among traders.</p>   
<h3 class="wp-block-heading" id="h-bearish-divergence-on-shorter-time-frames"><strong>Bearish Divergence on Shorter Time Frames</strong></h3>   
<p>The chart reveals an active bearish divergence that has started to manifest as a short-term pullback. This pattern often leads to price corrections. Interestingly, the RSI (<a href="https://coinpedia.org/traders/what-is-relative-strength-index-rsi/" target="_blank" rel="noreferrer noopener">Relative Strength Index</a>) on is entering oversold territory, suggesting we may see a bounce or sideways action soon, potentially stabilizing the price.</p>   [post_titles_links postid="371371"]   
<h3 class="wp-block-heading" id="h-current-market-sentiment"><strong>Current Market Sentiment</strong></h3>   
<p>Recent market dynamics hint at a long squeeze in play, contributing to bearish sentiment. This long liquidation has added sell pressure to Bitcoin’s price, aligning with the bearish trends observed in the charts.</p>   
<p>Looking at the Bitcoin liquidation heat map, there is substantial liquidity building to the downside, particularly around $64,800 to $64,200. If Bitcoin breaks through these levels, we might see further liquidation events.</p>

Bitcoin Price Prediction: Bearish Reversal And $60k Retest on Cards

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