Bitcoin's current market situation is quite intriguing. The key levels to watch out for are:
- *Resistance Levels*: Bitcoin is facing resistance around $70,000 to $72,000. A break above this level could lead to a retest of the all-time high around $73,500 ¹.
- *Support Levels*: The support levels for Bitcoin are around $65,000 to $67,000. If Bitcoin breaks below this level, it could lead to a further decline to around $60,000 ¹.
- *Consolidation Phase*: Bitcoin is currently undergoing a consolidation phase, trading between $67,000 and $70,000. This phase is expected to continue until a clear breakout or breakdown occurs ².
- *Open Interest and Funding Rate*: The open interest of Bitcoin perpetual contracts has been increasing, indicating a bullish sentiment. The funding rate is also positive, reflecting upward pressure on the price ².