Bitcoin Bulls vs Bears: Higher Low to Decide Next Move

Bitcoin's price action is set to be decisive over the next few days as trader @CryptoMichNL notes that a higher low will keep the bullish case intact, while a break of $60,000 support could lead to a retest of lows without hitting $40,000. The cryptocurrency currently sits at $63,546.15, and its historical support levels around $60,000 are key battlegrounds for BTC price prediction.

The 4-hour chart shows Bitcoin inside Bollinger Bands with upper resistance at $64,901.12 and lower support at $62,015.38. The EMA50 at $63,843.98 and EMA200 at $63,771.34 act as immediate resistances, while the MACD golden cross at -249.67 and neutral RSI at 50.26 point to consolidation before any decisive continuation.

According to @CryptoMichNL, a higher low is crucial in maintaining the bullish case for Bitcoin's price action. This suggests that if the cryptocurrency can hold above $60,000 support, it may continue its upward momentum without reaching lower levels.