#BTC gave a very solid closing on weekly TF and moved towards the next resistance area of $69,000 - $69,3000. The physiological level is at $70,000 so you can expect a fakeout with that too. As weekly closed strongly bullish, so there're higher chances that price can drive continue to bullish.
Bitcoin's current price is $68,494 USD, with a 0.05% increase in the past 24 hours.
Looking at the bigger picture, its month performance shows a 9.82% increase, and its year-to-date performance is up 63.60%.
Several indicators are pointing to a strong buy signal. There's also a hidden bullish divergence, which could indicate a potential breakout.
Key Levels to Watch:
- Support: $65,000, $60,000
- Resistance: $70,000, $72,000 - $74,000
Some analysts predict a potential breakout above the descending triangle pattern, which could lead to a significant price movement. Others suggest that Bitcoin will continue to grow, potentially reaching $155,000 or even $180,000 - $200,000 if inflation gets out of control.
Keep in mind that market conditions can change rapidly, and it's essential to consider other factors and conduct thorough analysis before making investment decisions. Always use stop-loss and take proper knowledge before investments.
