Bitcoin Prediction: Is $60K the Next Stop Amidst Correction?

Trading below $65,000 gives sellers the upper hand

• #Bitcoin price movements have shown a decline since June 7, when it peaked near $72,000.

• The asset encountered resistance at $66,500 and was repeatedly pushed down to around $64,000 this week.

• This downward movement correlates with Binance.US losing money transmitter licenses in several states, including North Dakota.

• On the 4-hour timeframe, #Bitcoin has formed a falling wedge pattern.

• Recently, $BTC price tested the lower boundary of this pattern around the $63,500 zone.

• According to Coin Gabbar analysis, A breakout above this pattern could trigger a rally towards higher prices, potentially setting a new all-time high.

• Conversely, if the price breaks down from the pattern, it may lead to a more severe decline, possibly causing a flash crash towards $60,000.

KEY LEVELS :

RESISTANCE LEVEL : $65,000-$66,200

SUPPORT LEVEL : $63,000-$61,500

Disclaimer: Coingabbar's guidance and chart analysis on cryptocurrencies, NFTs, or any other decentralized investments is for informational purposes only. None of it is financial advice. Users are strongly advised to conduct their research, exercise judgment, and be aware of the inherent risks associated with any financial instruments. Coingabbar is not liable for any financial losses. Cryptocurrency and NFT markets could be highly volatile; users should consult financial professionals and assess their risk tolerance before investing.