FX.co ★ #Bitcoin chart analysis

#Bitcoin / BTCUSD Hello traders! BTC/USD on the H1 chart - 1 hour period. Currently, the market situation is favorable for a price movement to the south from the key level of 69950.939623. The nearest targets are 1) 67321.316981, target 2) 66747.581132. This level acts as the first significant support, where price consolidation is possible. The second set of targets, target 1) 63592.033962, target 2) 63066.109434. This level represents a deeper support level where the price may head in case of a strong impulse development. The scenario suggests a high probability of a southward movement, especially if BTC/USD can establish itself below the level of 69950.939623. If the scenario unfolds, the price may reach the nearest targets, 67321.316981, 66747.581132 within a few days. I recommend keeping an eye on additional analysis and taking into account the release of important economic news that may impact price movement. Wishing everyone successful trading!