BTC is currently trading around $$ 60K, having successfully broken above the daily EMA50 and the H4 EMA200.

This positive technical development suggests a bullish outlook.

BTC could reach $$ 62K in the next 2-3 days.

However, a healthy price correction is needed to eliminate overbought positions, especially given the flat spot CVD.

The market is currently being supported by limit buyers.

If these buyers pull back, a price decline is likely.

The current short-term up-move is approximately 80% complete.