Bitcoin (BTCUSD) Price Analysis
Current Scenario
Bitcoin (BTCUSD) closed below 62,000.00$ yesterday and has initiated a strong decline today, targeting an initial test of 60,330.00$. Monitoring the price action at this level is critical, as a breach below could trigger further losses, potentially targeting 58,200.00$ as the next significant level of support.
Bearish Outlook
The outlook remains bearish for upcoming sessions. A decisive break above 62,000.00$ would alleviate current selling pressure and could prompt a recovery in Bitcoin’s price.
Expected Trading Range
- Support: 59,000.00$
- Resistance: 62,500.00$
Trend Forecast: Bearish
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