Bitcoin (BTC) is holding its breath: The big explosion may be near!

Bitcoin ($BTC ), which has retreated from a critical level, may soon explode upwards.

BTC, which has seen selling pressure and retreated from $69,500, has increased its bullish signals even more. The admiral of cryptocurrencies in an upward trend with its dominance level is giving positive signals even if it falls to $ 67,500. Bitcoin, which is currently holding on to the support level, may sail to new heights by breaking $ 70,000.

As of the writing of the news, Bitcoin, which is traded at $ 67,622, is holding on to the support level. BTC, which is close to the falling channel zone, may retreat to the $ 64,777 - 62,000 - 59,647 - 59,602 - 52,614 and $ 50,580 bands, respectively, if the $ 68,000 - $ 70,000 range cannot be overcome in volume. In this process, the $62,000 band will be decisive for the short/medium term. Continuation of weekly closings above $62,000 will accelerate the rally run.

With the arrival of positive data from spot ETFs, it is expected that money inflow into BTC will increase. In such a scenario, the $70,000 band can be watched as resistance first. Breaking this level, which is both psychologically and technically challenging, will pave the way for new peaks. If Bitcoin refreshes its ATH, $75,000 can be targeted first, then $80,000.

In addition, the US presidential elections may also play an important role for the BTC price. There is an expectation of a further increase in BTC if Donald Trump is elected president in the sector.

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