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>>Is Bitcoin Regaining Its Recent Highs or Slipping to Weekly Lows? A Pivotal Moment Ahead

Is Bitcoin Regaining Its Recent Highs or Slipping to Weekly Lows? A Pivotal Moment Ahead

crypthub

about 7 hours ago

Bitcoin's Critical Price Levels

Bitcoin faces a pivotal moment as it tests range extremes, with a binary outcome: reclaiming highs or falling to new lows. The $66,590 level on the H4 timeframe is key for bulls, while $68,000 hosts the Point of Control (POC) for a potential bullish shift. Breaking above $68,000 could target $71,422 and $76,971, but a sharp rejection may trigger a bearish selloff.

Market Structure and Momentum Shifts

A confirmed break above $66,590 signals momentum reversal, but a failed rally could indicate a liquidity trap. The $68,000 zone is crucial for both bulls and bears, acting as a pivot for structural shifts. Analysts emphasize patience, waiting for a Market Structure Break (MSB) before entering long positions.

Support Loss and Downside Risk

Bitcoin has breached the $65,000 support, shifting momentum to bears. While demand pockets between $60,000 and $63,000 may offer resistance, broader market conditions will influence outcomes. A potential sweep to $60,000 could precede a reversal, but short-term downside pressure remains a key risk.