Bitcoin’s Fate: Support or Resistance?

Bitcoin is currently facing a critical test at the $64,515 support level. This level could determine its direction in the coming days.

Bullish Arguments

  • Strong fundamentals and investor interest could push Bitcoin higher.

Bearish Arguments

  • Macroeconomic pressures and regulatory uncertainties could lead to a crash.

Technical Analysis

4-Hour Chart:

  • Bitcoin is retracing after being rejected at the $64,515 support level.
  • It’s still below the 100-day Simple Moving Average (SMA).
  • The Composite Trend Oscillator indicator suggests a potential decline.

1-Day Chart:

  • Bitcoin has fallen below the 100-day SMA.
  • It’s currently making a short-term pullback.
  • The Composite Trend Oscillator indicator suggests a long-term bearish trend.

Key Levels to Watch

Support Levels:

  • $64,515
  • $60,158

Resistance Levels:

  • $66,607
  • $71,909


If Bitcoin breaks below the $64,515 support level, it could fall further to test lower support levels. However, if it breaks above the $66,607 resistance level, it could move towards higher resistance levels.