Bitcoin Price Spikes to $65K, What’s Next?

- Bitcoin price is finally showing positive signs of a bullish trend. The big question now is whether the accumulation phase is over or just a temporary recovery.

- On the daily chart, BTC has broken above the 200-day moving average and the $64K resistance level. If the daily candle closes above these levels, the market could rally to $68K in the short term.

- On the 4-hour timeframe, the market structure is completely bullish. BTC has broken out of a bull flag pattern, a classic price action-based trend continuation signal.

- On-chain analysis shows a sharp increase in BTC funding rate, indicating bullish sentiment in the market. However, investors should be cautious of possible long-term liquidations.

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