Bitcoin (BTC) Retests Critical Support Area, Faces Short-Term Warning Signal
Bitcoin is currently experiencing a short-term warning signal as it continues to retest a critical chart area. This movement is happening alongside
Bitcoin is showing a short-term warning sign as it continues to retest a critical chart area, with new liquidations emerging that require close monitoring.
Fresh liquidations are emerging around $61.9k to $62.1k, with more liquidity at $59,000 and $56.5k to $57,000. There is also some short-term liquidity building around $66.4k.
After a net inflow of around $300 million on Monday and $422 million on Tuesday, Wednesday saw a decrease in net inflow to spot Bitcoin ETFs.
This comes as Bitcoin experiences a retest of a crucial support area between $63,000 and $64,000. Holding above this support is key, as a daily candle close below $63,000 could indicate a short-term bearish trend.
If the price falls below this support, the next support level lies between $60,000 and $61,000, based on the 4-hour Bitcoin chart.
Resistance for Bitcoin lies just below $67,000, extending up to around $68,000, with further resistance between $72,000 and $74,000. Even in a bullish trend, price struggles around these resistance areas are common.
A 4-hour chart divergence has emerged, indicating some choppy sideways action or a slight pullback. This contrasts with a bullish divergence on the daily chart, suggesting any pullback may be temporary within the broader bullish trend.
Bitcoin is experiencing a retest of a critical support area between $63,000 and $64,000, with a daily candle close below $63,000 potentially signaling a short-term bearish trend.
The price could quickly drop to around $62,000 before a rebound, driven by these liquidity levels.
The above is the detailed content of Bitcoin (BTC) Retests Critical Support Area, Faces Short-Term Warning Signal. For more information, please follow other related articles on the PHP Chinese website!

Hot AI Tools

Undresser.AI Undress
AI-powered app for creating realistic nude photos

AI Clothes Remover
Online AI tool for removing clothes from photos.

Undress AI Tool
Undress images for free

Clothoff.io
AI clothes remover

Video Face Swap
Swap faces in any video effortlessly with our completely free AI face swap tool!

Hot Article

Hot Tools

Notepad++7.3.1
Easy-to-use and free code editor

SublimeText3 Chinese version
Chinese version, very easy to use

Zend Studio 13.0.1
Powerful PHP integrated development environment

Dreamweaver CS6
Visual web development tools

SublimeText3 Mac version
God-level code editing software (SublimeText3)

Hot Topics











This new financial instrument would track the token's market price, with a third-party custodian holding the underlying AVAX

In a devastating blow to investors, the OM Mantra cryptocurrency has collapsed by approximately 90% in the past 24 hours, with the price plummeting to $0.58.

Have you noticed the meteoric rise of meme coins in the cryptocurrency world? What started as an online joke has quickly evolved into a lucrative investment opportunity

Zcash was one of the top gainers during the latest market rally, reaching a high of $35.69 as traders moved a record amount of tokens out of circulation.

A group of former Kraken executives acquired U.S.-listed company Janover, which secured $42 million in venture capital funding to begin building a Solana (SOL) treasury.

The crypto market has witnessed a rebound following the recent sheer downturn. As per the exclusive market data, the total crypto market capitalization has reached $2.71Ts

As fear drives selling in the crypto market, major coins like Cardano and Solana face tough times.

Bitcoin (BTC) has outperformed Ethereum by over 85% in realized market capitalization growth, according to data provided by on-chain analytics platform Glassnode on April 10.