Bitcoin Technical Analysis – H1

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.