🔥 In-Depth Bitcoin Trend Analysis 🔥
As we discussed earlier, things have started to take a positive turn with Bitcoin breaking above $60,300. Now, we have some encouraging and optimistic information that enhances the bullish outlook for the upcoming rise, barring any market-disrupting events.
▫️Based on the available data:
1. Daily Chart 📊:
• Trend: Bitcoin was within a descending channel but has broken through the $60,300 level.
• Support: $50,737 and $60,371.
• Resistance: $71,162.
• Indicators: Overbought condition on the Stochastic RSI.
2. Trading Data 📈:
• Volume: Significant increase supporting the uptrend.
• Open Interest: Growing market interest.
• Funding Rates: Slight selling pressure.
3. Liquidation Heatmap 🗺️:
• Liquidation Levels: Concentration at $65,000.
• Analysis: Potential for a price surge.
▫️Summary 🌟
Bitcoin is in an uptrend with the breakthrough of the $60,300 level and trading above it, reinforcing a positive outlook. Key levels to watch are the support at $60,371 and resistance at $71,162. The uptrend is expected to continue with growing investor interest. 📈🚀
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