During yesterday’s drop #BitcoinPrices Bitcoin set a local low at $65,640.
However, long stops and liquidations were not fully cleared, which suggests price may still move down toward $65,000 in the near term.
Below, in the $63,035 – $64,730 range, there’s a bullish order block that could slow price.But since this block is considered invalid, it’s likely to get broken eventually.
Before another leg down, price could grind higher toward $67,370, retesting the broken lower boundary of the ascending channel.
The key level for a stronger bounce is around $62,170. Until price reaches that zone, no long positions are being considered.
That said, a bounce could still happen from $63,890 or the order bloc and if it does, it’s a move worth skipping.
