Bitcoin Range-Bound as Zhou Yanling Identifies Key Support Zones

Zhou Yanling's latest analysis suggests that the Bitcoin market has been fluctuating within the 62,000-66,000 range since August.

Last night was the closest moment to the upper resistance level in recent times, but on the daily chart, the Bitcoin box is still not broken, and the 20-day moving average is holding the price up, but the volume is weak.

The 65,500-66,000 area above is a major barrier, while the 63,500-64,000 level below is a key support zone. The price is also testing levels right now on the 4-hour chart, and once it touches 65,000, it faces selling pressure.

Zhou Yanling advises traders to short at 66,000-65,300 with a stop loss above 66,700 and target at 64,100-63,500. On the other hand, they can long at 63,500-64,100 with a stop loss below 62,800 and target at 65,000-65,500.