Bitcoin price has been making higher highs and lower lows over the past few months, approaching a new record high. 📈

On the daily chart, the price is rallying from the $52K support level. It is falling towards the $68K support level, but the market structure is still bullish.

On the 4-hour chart, it is moving within an ascending channel. It is testing the lower end of the channel and if this range holds, a new record could follow.

The futures market is a major influence on BTC price action. Positive funding rates indicate bullish expectations. However, these rates are still lower than the record highs in March. With sufficient spot demand, higher prices can be expected in the coming weeks. 🚀