Bitcoin update on the 4H timeframe 📊
Bitcoin showed a very positive reaction after touching the $57,000 area and managed to break through the $60,800 resistance level, a level it failed to surpass multiple times in the past.
Currently, a retest of the $60,800 area is expected. If Bitcoin successfully holds this level and does not close below it on the 4-hour timeframe, the next target is likely to be $63,200.
However, if Bitcoin loses the $60,800 level and closes below it, the bearish scenario may regain control, with a potential strong decline extending to the $54,000 areas.
Regarding the flag pattern, it remains valid and active; it is only considered invalidated after a clear close above the $67,000 level. Until then, the bearish scenario on the 4-hour timeframe remains dominant 📉📉📉
