Bitcoin (BTC/USD), Technical Analysis – H4

The market is debating whether the breakout above the ascending channel signals a full shift toward buyer dominance or if it was merely a false breakout that will force price back inside the channel. The answer will largely depend on the reaction at the upper channel boundary around $66,000, which is being tested at the moment.

Key Levels:

□ $66,000 — Critical resistance / upper channel wall

□ $65,000 — Intermediate support

□ $63,600 — Deeper support target

Primary Scenario:

Decline below $66,000 with further downside toward $65,000 and $63,600 (beyond the daily timeframe).

Alternative Scenario:

Continued growth toward $67,000.

Analyst Commentary:

The situation remains fragile for bulls despite the strong positive momentum seen in recent days. A decisive rejection at $66,000 could quickly tilt the short-term bias back to the downside.