Bitcoin's recent price action has been marked by intense selling pressure, resulting in a correction that has left investors cautious. Despite this, some analysts believe the bull run may not be over yet. TradingRage analyst's latest analysis highlights crucial price levels that may determine Bitcoin's future trajectory.

On the daily chart, Bitcoin struggles to maintain the $66,000 level, indicating a correction phase. The failed breakout from a descending channel formation and RSI value below 50 suggest sellers are gaining dominance, fueling fears of a deeper downward trend. However, the price remains supported at $60,000.

In contrast, the 4-hour chart presents a more optimistic outlook. Although the price briefly dipped below the horizontal channel's support level, it has since recovered. If the price continues to trade within this channel, it may retest the $72,000 resistance area. However, a downward channel break could lead to further price declines.

Currently, Bitcoin trades at $66,100, with a slight increase in the last 24 hours. While its market capitalization remains above $1.3 trillion, the 24-hour trading volume has dropped significantly, indicating waning investor interest.

In conclusion, Bitcoin's price analysis highlights key levels that will influence its future performance. As the market navigates this correction phase, investors are closely watching these levels, hoping to capitalize on a potential rebound or prepare for further declines.