Bitcoin Price Prediction: Is This the End of BTC Bull Run?

Bitcoin bulls must defend $65,000 to prevent further losses

• #Bitcoin (BTC) is currently facing resistance at the $65,000 mark, a significant level.

• Over the last three months, $BTC has been consolidating sideways, forming a bullish flag pattern.

• On June 7th, $BTC was rejected from the upper trendline of this consolidation, suggesting continued sideways movement.

• The Daily timeframe shows a bearish crossover among the 20-day, 50-day, and 100-day Exponential Moving Averages (EMA), indicating increased bearish sentiment.

• The MACD histogram shows a rising red trend, while the RSI is below 50, indicating higher selling pressure.

• According to Coin Gabbar analysis, If Bitcoin holds above $65,000, it may target $70,000 as the next psychological resistance level.

• Conversely, a break below $65,000 could see support levels at $63,000 initially, with potential further decline to $60,000.

KEY LEVELS :

RESISTANCE LEVEL : $66,800-$68,200

SUPPORT LEVEL : $64,600-$63,500

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