#BTCUpdate 1D: Bulls Eyeing Higher Ground

Bitcoin is testing its strength against the key 200-day EMA once again. This resistance level also coincides with a support trend line, creating a potential confluence zone.

Short-term outlook: We might see a breakthrough above the 200-day EMA, flipping it back into support. This would be a bullish sign, indicating a potential upside rally.

Positive ETF inflows: Yesterday's ETF data is encouraging, with a significant inflow of $294 million. This suggests institutional interest remains strong.

Price target: Reclaiming the current level as support could propel Bitcoin towards $72,000 or higher.

Margin of safety: If you haven't entered the market yet, consider using the margin of safety approach. This could be the last buying opportunity before the next significant price increase.

#Dyor2024 before investment.
#BinanceTurns7 #BTC_Bounce_Back_to_57k