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Bulls successfully defended the psychological $60,000 zone, establishing the foundation for an upward technical correction. The potential target of this retracement is the $67,500 area; however, its realization requires a breakout through the challenging resistance cluster around $64,000.
Key Levels:
□ $60,000 (psychological support)
□ $64,000 (key resistance cluster)
□ $67,500 (correction target)
? Primary Scenario:
Break and consolidation above $64,000, followed by further advance toward $67,500.
? Alternative Scenario:
Prolonged and complex consolidation below $64,000, signaling buyer exhaustion.
⚖️ Analyst Commentary:
Even if an upward swing toward $67,500 materializes, it would still be premature to declare the end of the broader downtrend.