Bitcoin Facing Resistance: Whatโs Next for
$BTC ? ๐
As we look at the current market structure, Bitcoin
$BTC is showing some interesting movements on the 4H timeframe. After a recent retest of the support zone, the price is consolidation just below the immediate resistance level.
Key Levels to Watch: โข Immediate Support: Around $58,200 (Crucial area for bulls to hold) โข Major Resistance: Around $61,500 - $62,000
If Bitcoin manages to break and close above the resistance level with good volume, we might see a continuation towards higher targets. However, if the selling pressure increases, a retest of the lower support levels is highly likely.
What are your thoughts? Are you bullish or bearish on
$BTC for the upcoming week? Let me know in the comments! ๐
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