Bitcoin Price Prediction – Following Tuesday’s Sell-Off, the Bulls Eye a Return to $63,000

It’s been a choppy morning session for Bitcoin after Tuesday’s reversal.

At the time of writing, Bitcoin, BTC to USD, was up by 0.55% to $60,401.0.

A bearish start to the day saw Bitcoin fall to a late morning low $58,368.0 before finding support.

Steering clear of the first major support level at $57,942, Bitcoin moved back through to $60,000 levels and into the green.

Noteworthy, however, was Bitcoin’s failure to move through the day’s $60,752 pivot.

Bitcoin struck a late morning high $60,586.0 before easing back.

For the Afternoon Ahead

Bitcoin would need to move through the $60,752 pivot to bring the first major resistance level at $62,878 into play.

Support from the broader market would be needed for Bitcoin to break back through to $62,000 levels.

Barring an extended rally, the first major resistance level and resistance at $63,000 should limit the upside.

In the event of a broad-based crypto rebound, Bitcoin could test resistance at $65,000 levels before any pullback. The second major resistance level sits at $65,688.

Failure to move through the day’s $60,752 pivot would bring the first major support level at $57,942 back into play.

Barring an extended sell-off through the afternoon, however, Bitcoin should avoid sub-$57,000 support levels. The second major support level sits at $55,816.

Looking beyond the support and resistance levels, we saw the 50 EMA pull further back from the 100 and 200 EMAs this morning.

We also saw the 100 EMA pullback from the 200, delivering further downside pressure.

A flatting of both the 50 and 100 EMAs on the 200 through the late morning provided some support, however.

Through the 2^nd half of the day, a narrowing of the 50 EMA on the 100 would bring $62,000 levels back into play.

A bullish cross of the 50 EMA through the 100 would be needed, however, to bring $65,000 levels into play.

Key through the late morning and early afternoon would be to move through the day’s pivot level to avoid a return to sub-$59,000…