$BTC BITCOIN AT THE CROSSROADS: WILL IT SURGE OR SLUMP❓
Bitcoin's price has hit a roadblock at $65k after a week of steady gains. The market is now waiting with bated breath to see if the cryptocurrency will break through the resistance level and continue its upward trajectory or experience a pullback.
A BULLISH START TO THE MONTH
Bitcoin started the month on a rocky note, plummeting from $63k to $49k. However, it quickly regained its footing and rose to $62.7k in the second week. After a brief dip, the price surged again, reaching a monthly high of $65k last week.
THE CALM BEFORE THE STORM?
The price has been hovering around $64k since last weekend, indicating a lack of interest from buyers. However, the weekly chart still looks bullish, and a strong interest from buyers could lead to bigger gains in the coming days.
KEY LEVELS TO WATCH
- Resistance: $65,000, $67,000, $70,080
- Support: $62,745, $59,704, $56,552
A push above $65,000 could lead to buying opportunities at $67,000 and $69,000. A surge above $70,080 would validate a breakout. However, a pullback could occur if Bitcoin fails to hold above $62,745, potentially leading to a drop to $56,552.
THE VERDICT
Bitcoin's price is at a critical juncture. Will it break through the resistance level and continue its upward trend, or will it experience a pullback? Only time will tell.😉
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