Bitcoin Analysis Update:

1. Downtrend Channel Breakout:

- The breakout from the downtrend channel has been confirmed, signaling a shift towards an upward trend. This movement past $65,000 USDT serves not only as a psychological but also a technical support level, critical for maintaining the bullish momentum.

2. Key Resistance Levels:

- The resistance zone between $72,000 and $73,881 USDT remains significant due to its historical liquidity and the presence of short positions. If Bitcoin manages to touch or exceed this level, it could trigger a cascade of short liquidations, propelling the price higher due to the dynamics of covering these positions.

3. Support Levels:

- Immediate Support at $65,000 USDT: This level acts as a pivotal point for the current bullish scenario. Holding above this support would reinforce the bullish narrative, potentially encouraging more investors to enter the market.

4. Market Sentiment and Expectation:

- Recent data from platforms like coinmetrics and market analyses indicate a positive shift in market sentiment. Bitcoin, along with other major cryptocurrencies, has shown positive growth this week, with Bitcoin itself up significantly. This suggests that even if there's a momentary dip, the overall market sentiment supports further upward movement, especially if Bitcoin maintains its position above key supports like $65,000 USDT.

- Short Liquidations: The market has seen more shorts liquidated than longs, which typically indicates a market favoring upward movements. This scenario could amplify if Bitcoin hits the mentioned resistance zones due to the liquidation dynamics.

▫️Summary:

- Current Support: $65,000 USDT remains crucial. A hold here would likely see Bitcoin testing higher resistance levels.

- Resistance with Short Liquidation Potential: $72,000 - $73,881 USDT. Reaching this zone could lead to a significant price surge due to short covBitcoinBreakout

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