Next week, Bitcoin will be at a key juncture to determine its short-term trend. Currently, it is hovering around $68,000, testing a major resistance near $70,000. If the price manages to break this barrier, it could trigger a wave of short liquidations, which would push the price even higher. However, if this resistance holds, there could be a short-term downward correction.
From a technical perspective, several indicators, such as moving averages and the relative strength index (RSI), show that Bitcoin could be close to an overbought zone, but buy signals remain strong. Adding to this is the uncertainty surrounding global economic policies, especially central bank decisions that influence financial markets, including cryptocurrencies.
For intermediate investors, it is crucial to monitor these resistance levels while staying on top of major economic news, such as cryptocurrency regulatory announcements or stablecoin market movements that could also play a role in price dynamics.
Bottom line: Stay tuned for the next few days, as a break above $70,000 could signal a sharp rise, while a correction could push prices back to lower levels.
