BTC is currently trading around $60K, having successfully breached the daily EMA50 and the H4 EMA200. This positive technical development suggests a bullish outlook. I anticipate BTC to reach $62K within the next 2-3 days. However, a healthy price correction is necessary to eliminate overbought positions, especially given the flat spot CVD. The market is currently being supported by limit buyers. If these buyers pull back, a price decline is likely. I estimate that the current short-term upside move is approximately 80% complete.
