4-Hour Analysis:
Big Picture: Price has climbed in recent days, nearly recovering Bitcoin’s intraday drop on March 5th. Bulls are once again in the congestion zone and are holding firmly. If this resilience against selling can be sustained over the next few hours, a rebound towards the All-Time High levels remains possible. Meanwhile, persistent strength above the All-Time High could push Bitcoin back into a hyper-bullish phase.
On the Upside Price has successfully surpassed the 67,000 level and is currently holding below the trendline resistance. Breaking past the trendline resistances around 67,580 to 67,880 levels will push the price up towards 68,300, followed by 69,000 to 69,200 levels. Meanwhile, strength over 69,200 offers the upside potential towards 70,250 and 72,000 levels.
On the Downside the 67,000 mark has taken a supportive stance for the session. Holding this level is favorable for the bulls. Furthermore, maintaining this level is critical towards sustaining the current momentum. Any breaches below 67,000 might result in an intra-day slowdown as well as a further decline down to the 65,555 level, which is another crucial level to maintain to avoid any more bearish swings.
