Positive 📈📈
Here is my technical analysis of the BTC/USDT chart, Bitcoin is currently showing bullish momentum. The price recently rebounded from a low of $56,552.82 and is now trading at $68,667.04, with a significant upward movement of ✈️
• Current support: 56,552.82 US dollars
• Immediate resistance: $69,305
• Next target: $71,655 USD🎯
• All-time high: $72,797.99💵
• The 📈📉 chart displays a clear series of higher lows and higher highs, indicating an upward trend.
• The recent upside breakout from the previous low indicates strong buying interest and a potential continuation of the uptrend.
• The recent price increase is supported by higher trading volume, which typically indicates strong investor confidence and momentum.✍️
• Bullish engulfing patterns can be observed at key points, supporting bullish sentiment.
• Current price action indicates that a break above the immediate resistance level of $69,305 is likely.
If BTC succeeds in breaking the resistance at $69,305, it is expected to move towards the next target of $71,655. This would further strengthen the uptrend and potentially lead to a new all-time high above 72,797.99 USD.
