Bitcoin is currently holding a crucial trendline that is key for a bullish scenario. A break below this trendline could lead to a potential drop towards the $54K region. However, as long as it holds, we can expect a rise in $BTC towards the $62K-$63K range.
Looking at the $BTC daily chart, the outlook appears somewhat bullish. We've recently seen a bullish MACD crossover, and on the last two occasions this occurred, Bitcoin rallied to the $70K region. The area around $63K is particularly importantâif $BTC can close above $63,200 on the daily chart, it could pave the way for a rise towards the $69K region. Now you have both scenarios, act accordingly. Let's see how it goes.
