📊 Will Bitcoin Continue its Rise? – Metilli Analysis
Bitcoin is currently trading at $63,237.66. After reaching a 24-hour high of $63,500.84, there’s been a slight pullback, which looks like a healthy correction. The short-term moving average (MA7) is at $63,181.35, above the longer-term moving averages, indicating that the upward trend could continue.
🔍 Technical Indicators:
• Support Levels: The key support level right now is at $62,225.57. As long as this holds, further upward movement seems likely.
• Resistance Levels: The resistance at $63,500.84 is critical. If it breaks, the price could quickly test $65,000 and beyond.
📈 Recommendation:
Given the current price movements and indicators, the uptrend seems strong. However, keep a close eye on the $63,500 resistance! If Bitcoin breaks through this level, we could see a swift move toward $65,000 in the short term.
