Bitcoin has recently reclaimed the 4-hour EMA200 at $61.6k, which is a promising development for our long positions. This level has been retested several times, indicating solid support. However, we are still facing resistance at $62.5k, the previous weekâs low, which remains unbroken.
As we approach the weekend, we anticipate a typical low-volume Saturday, likely keeping BTC within a range of $61.6k to $62.5k. This creates potential trading opportunities at the extremes of this range.
Strategy:
Support Level: $61.6k â Look for buying opportunities if the price approaches this level.
Resistance Level: $62.5k â Watch for potential selling opportunities if Bitcoin struggles to break through this point.
Stay vigilant for any market shifts, especially as we navigate the weekend.
