Bitcoin Analysis: Bitcoin Prices at a Crossroads ⏳⏳⏳‼️‼️‼️
◽️ Expected Trend:
Based on the daily chart of Bitcoin futures (CME), the technical analysis shows several key indicators:
1. Support and Resistance Zones:
• Support: Around the 60,000 USD level, which has formed a strong base in recent months.
• Resistance: At the 74,415 USD level, where a strong barrier exists that may require substantial momentum to break through.
2. Price Gap:
• Indicates a potential price correction at certain levels.
3. Stochastic RSI Indicator:
• Shows an overbought condition, suggesting a possible near-term correction, especially upon reaching resistance areas.
4. MACD Fake Filter:
• Shows a continuation of the upward trend with positive signals, supporting further price increases in the near future.
◽️ Expected Trend:
• If the bullish momentum continues: The price could break through the resistance area at 74,415 USD, with targets exceeding 80,000 USD in the medium term.
• If a price correction occurs: The price may return to the support area at 60,000 USD to fill the price gap before resuming its upward movement.
In summary, Bitcoin is expected to face some challenges at the current resistance levels, but the overall momentum remains positive in the medium and long term.
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