Bitcoin Technical Analysis – H1
Bitcoin continues to trade within a descending structure. The $63,200 support zone remains the key level that bears must break to confirm further downside momentum.
Bitcoin continues to trade within a predominantly downward structure on the H1 timeframe. To firmly consolidate the downtrend, bears must push price below the $63,200 support zone — an area that previously attracted sufficient demand to halt the decline. Should bulls fail to defend this level, their stop-loss orders risk being triggered, potentially sparking a fresh cascade of liquidations.
Key Levels:
□ $63,200 — key support
□ $62,500 — primary target
□ $62,000 — extended target
□ $64,000 — upside recovery level
Primary Scenario:
Decline toward $62,500, with an extension target at $62,000.
Alternative Scenario:
Fresh bounce from $63,200 followed by a recovery toward $64,000.
Analyst Commentary:
Bearish positioning remains dominant. Close attention should be paid to price reaction at the critical $63,200 level.
Nikolai Krishtopov is a Market Analyst at Investizo with more than 15 years of experience in the financial markets industry and over a decade of trading experience. His areas of focus include forex and crypto markets, technical analysis, intraday trading and market behaviour.