đĽ In-Depth Bitcoin Trend Analysis đĽ
As we discussed earlier, things have started to take a positive turn with Bitcoin breaking above $60,300. Now, we have some encouraging and optimistic information that enhances the bullish outlook for the upcoming rise, barring any market-disrupting events.
âŤď¸Based on the available data:
1. Daily Chart đ:
⢠Trend: Bitcoin was within a descending channel but has broken through the $60,300 level.
⢠Support: $50,737 and $60,371.
⢠Resistance: $71,162.
⢠Indicators: Overbought condition on the Stochastic RSI.
2. Trading Data đ:
⢠Volume: Significant increase supporting the uptrend.
⢠Open Interest: Growing market interest.
⢠Funding Rates: Slight selling pressure.
3. Liquidation Heatmap đşď¸:
⢠Liquidation Levels: Concentration at $65,000.
⢠Analysis: Potential for a price surge.
âŤď¸Summary đ
Bitcoin is in an uptrend with the breakthrough of the $60,300 level and trading above it, reinforcing a positive outlook. Key levels to watch are the support at $60,371 and resistance at $71,162. The uptrend is expected to continue with growing investor interest. đđ
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