Bitcoin price is showing signs of recovery after months of correction. The big question now is, is it time for a new all-time high, or is this just a fake breakout? 🤔

Bitcoin was stuck in a falling channel pattern against USDT. However, the cryptocurrency broke above the middle line of the pattern, with the subsequent recovery from the $60K level and the lower boundary of the channel.

The $68K resistance level is the last hurdle before the upper limit of the channel. If the price breaks this level upwards, a new all-time high will be inevitable and a new Bitcoin rally will begin. 🚀

Bitcoin's open interest is one of the most important metrics for analyzing future market sentiment. High values ​​are generally associated with bullish sentiment. However, excessively high Open Interest values ​​can also lead to volatility and liquidation cycles.

Open Interest is recovering along with the price after a significant decline during the correction. If OI does not rise rapidly with price appreciation, a sustainable rally can be expected with sufficient demand from the spot market.