Based on the chart for $BTC /USDT, the current price of $63,942.11 shows a +3.19% increase. The 24-hour high is recorded at $64,133.32, indicating that Bitcoin is nearing a key resistance zone. The price has been climbing steadily after rebounding from a low of $61,814.00, which shows renewed bullish momentum.
The nearest resistance level stands at $64,133.32, which, if broken, could push Bitcoin toward the next key level of $64,465.33. This level is critical to watch for further upside potential. On the other hand, if the price fails to break through this resistance, a pullback to the nearest support at $62,030.65 could be expected.
In conclusion, traders might consider a long position if Bitcoin breaks above $64,133.32, aiming for higher targets like $64,465.33. However, if the price reverses and drops below $62,030.65, it may trigger short-selling opportunities with a more cautious outlook. Keep a close watch for clear breakout or rejection signals on the 4-hour chart.
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