Bitcoin is at risk of a lower high reversal at $63,000, with key resistance at $64,000

From Investing.com

September 20, 2024 9:00 AM:

Bitcoin is approaching a critical level near $63,000, signaling a potential lower high in the current downtrend. Failure to break key resistance could indicate an impending price reversal. Despite recent rally, technical obstacles persist, with $64,000 as a crucial boundary for further upside potential.

A death cross on Bitcoin dampens hopes for a strong rally, indicating continued bearish momentum and downside risk. However, increased trading volume provides short-term momentum, although RSI suggests potential overbought conditions, hinting at a possible pullback if buyers falter.

Bitcoin’s fate hangs on breaking above $64,000 to negate the death cross and gain bullish momentum. A failure to breach this key level could confirm a lower high, while a breakout could shift market sentiment and empower the bulls to regain control.

Read more at Investing.com: Bitcoin (BTC) on Verge of ‘Lower High’ Reversal at $63,000: What’s Happening? By U.Today