According to Technical Analyse and NEWS;
Bitcoin's next move is uncertain, but here's an analysis of potential scenarios:
Bullish Scenario (40% probability):
1. Break above $66,000 (resistance)
2. Target $70,000, $75,000, and $80,000
3. Drivers:
- Continued institutional adoption
- Improving global economic conditions
- Growing demand for Bitcoin ETFs
Bearish Scenario (30% probability):
1. Break below $62,000 (support)
2. Target $58,000, $55,000, and $52,000
3. Drivers:
- Regulatory uncertainty
- Market correction after recent gains
- Decreased trading volume
Consolidation Scenario (30% probability):
1. Range-bound trading between $62,000 and $66,000
2. Drivers:
- Market indecision
- Lack of clear direction
- Profit-taking and position-adjusting
Key Indicators:
- RSI (14): 64.5 (neutral/bullish)
- MACD (12, 26): Bullish crossover
- Moving Averages:
- 50-day MA: $59,300
- 200-day MA: $54,400
- Bollinger Bands: Narrowing, indicating reduced volatility
Whale Activity:
- Moderate buying above $64,000
- Increased activity in large transactions (>100 BTC)
Market Sentiment:
- 55% of traders expect Bitcoin to rise
- Fear and Greed Index: 62 (neutral/bullish)
Timeframe:
- Short-term (24 hours): 40% chance of breakout, 30% chance of consolidation
- Medium-term (1-7 days): 50% chance of continued uptrend
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