Crypto analyst MMBT Trader stated that Bitcoin is retesting a bullish channel at $65,000, crucial for future price movements. The support zone is described as the key, and holding above it could lead to a new all-time high. Meanwhile, a drop could result in a fall to $60,000 or even $50,000.
Analyst Justin Bennett identified $65,800 as a crucial level. A successful hold above it would negate a potential downside scenario, whereas a fall could bring Bitcoin down to $63,000. Bitcoin, now traded over $67,000, is yet to secure a bottom until it exceeds $68,200.
Rekt Capital emphasizes a weekly close above $66,200 for confirmation of a bullish trend. The crypto had shown signs of recovery above the levels after a brief dip, but sustained support is crucial for upward momentum.
Bearish views from CrediBULL Crypto suggest a possible short-term spike to $68,000 before a drop to $60,000 as part of market dynamics. He questions the sustainability of a long-term uptrend without retesting lower ranges.
