After price failed to hold the $64k level, we have now seen that prior support flip into clear resistance, and $BTC is now experiencing repeated rejections from it.
If we continue to fail this retest of resistance at $64k, price will very likely fall to the next major support level around $61k. The most bullish scenario would be for price to break back above $64k and then reclaim the downtrend that has formed over the past few days.
If we can break above that downtrend, we will still then need to clear the major macro resistance sitting between $65.7k and $67k that we’ve been discussing for weeks. So it’s safe to say that $BTC is currently facing much stronger headwinds than tailwinds on the short term charts.
Keep a very close eye on these levels as we continue through the week!
