Bitcoin 4-hour chart: Weak momentum on both sides—down first, then up? The price has rebounded to the 0.5 Fibonacci retracement level, around 62,000. This is a weak gravitational zone, with bullish momentum extremely diminished. If the price wants to continue rebounding upward, it’s facing heavy resistance! I estimate that the price is highly likely to first drop back to test around 60,500, then continue rebounding. Why this prediction? Check out the in-depth analysis in the article below to get a clearer view of the market