Bitcoin price is in a consolidation phase after recovering from the $56K support level over the past few weeks. Investors are wondering whether a new record will be broken in the short term.

On the daily chart, the price is fluctuating between the $64K and $68K levels. If the $64K support is broken, the next target for the bears could be the 200-day moving average at $61K.

On the 4-hour chart, the price is slowly retreating in a falling wedge formation. If the $64K support holds, BTC could rally towards the $68K resistance again. However, if the $64K support is broken, the RSI indicator signals bearish momentum.

Bitcoin exchange net flows have shown large negative values ​​in recent days. This suggests that investors are using the current pullback to add more BTC to their portfolios. This behavior could create a supply shock and lead to a significant rally in the coming months. 🚀