1. Current Trend:
The chart shows three Exponential Moving Averages (EMAs): EMA(7) at 67,157.7, EMA(25) at 65,514.4, and EMA(99) at 63,118.4.
The price is currently above EMA(25) and EMA(99), indicating a potential bullish trend.
2. Resistance and Support:
The recent high is 68,740, which might act as a resistance level. If BTC breaks this level, it could indicate further bullish momentum.
A support level is near 65,514.4 (EMA(25)), which could hold if the price dips.
3. Technical Indicators:
The EMAs suggest that BTC is in an uptrend on the daily timeframe, as the shorter EMA (7-day) is above the longer ones (25-day and 99-day).
Historical trends show a strong increase over the past year (95.61%), which might support continued upward movement.
4. Short-Term Prediction:
Based on the current trend, BTC could reach around 70,000 in the next three weeks if the momentum continues and resistance levels are broken.
However, if it encounters resistance near 68,740 and fails to break above, it may consolidate between 65,500 and 68,000.$BTC
