BTC Rate Drops Below $64,000: Analysis and Predictions for the Coming Hours

The BTC rate dropped below $64,000 by the end of the day. The correction scenario in the range of $62,987-64,120 continues to work out. But it’s confusing that buyers are weaker than we expected.

In the coming hours we expect at least local growth in #BTC. Perhaps after a test of $62,987 or a squeeze a little lower, to $62,260. But for this growth to be not a rebound, but a reversal, it is necessary to consolidate above the volume level of $65,892, which still looks problematic.

Therefore, for now, the minimum goal is to gain a foothold with a daily candle above the EMA of the 50 day TF (currently $64,731). Below it is impossible. The reason is not only the closing of the day below the important moving average. But also in the fact that then a bearish reversal pattern “Evening Star” will be formed on the daily chart, with minor flaws. And it, like the “Morning Star”, historically has a large percentage of completion on the daily BTC chart.

The daily MACD so far indicates a cancellation of the expected bullish signal, while the daily RSI so far indicates a retest of the breakdown of the downward trend. But it will be of little use if the daily RSI does not return above 50 in the coming days.

And although all this so far concerns the local picture - a likely consolidation below the EMA of the 50 day TF - this is already about the medium-term situation. Fixing under it now and retesting today's breakout is a threat for the bulls. The price may again go to the loys on April 17 and 19.

We are not canceling our growth expectations yet, but the buyer is weak at the moment and we will monitor important supports and resistances in the local picture. Three hours before the daily candle closes.

$BTC