$BTC #bitcoin☀️

In this analysis of the BTC/USDT chart on the 3-day timeframe, we observe a potential bullish scenario based on key technical indicators:

50 MA Breakout: The price has recently approached the 50-period moving average (MA), which acts as a significant dynamic resistance level. If the price successfully breaks above the 50 MA and sustains this level on a 3-day close, it could indicate a shift in momentum toward bullish market sentiment. Historically, moving average crossovers often lead to substantial price movements, particularly in larger timeframes like this one.

Fibonacci Retracement Levels: The chart incorporates Fibonacci retracement levels, particularly focusing on the 0.236 level at approximately $63,294. A clean break and hold above this level would reinforce bullish momentum, as this retracement zone often serves as a critical resistance point after a market pullback. Breaking this level could signal that the correction phase is over, with the bulls regaining control.

Potential Upside to $74K: Once the price clears the 0.236 Fibo level, the next significant resistance would likely come from the previous all-time highs near $74,000. A breakout from current levels could generate enough bullish momentum to push the price toward these highs. The yellow arrow illustrates this expected price hike, assuming the necessary breakout occurs.

In summary, if the price confirms a breakout above the 50 MA and 0.236 Fibo level on the 3-day chart, the path toward $74K could open up. This potential rally is contingent on market sentiment remaining positive and the breakout being sustained.