$BTC
BTC
$BTC The price is trading within a downward channel on the 4-hour timeframe, with a clear rebound from the support at $62,800
Support areas:
$62,800 (rebounded from it this morning
$60,500 (strong support in case of breaking the first support
Resistance areas:
$64,300 (current resistance near the 50 moving average
$66,000 (psychological and technical level
Potential pattern:
We notice the formation of a double bottom pattern at the $62,800 area, and if the neck line at $64,300 is broken, it could push the price to $66,000
Technical indicators:
RSI is recovering from the oversold area, currently trading at 46
MACD shows a potential bullish crossover, supporting the likelihood of a rebound
Proposed scenario:
Buy entry after breaking $64,300 with a 4-hour candle close
Stop loss: below $62,800
First target: $66,000
Second target (in case of momentum): $
