đ„đ„Bitcoin (BTC) is heating up: Critical comment from experts đ„đ„
Bitcoin is currently following a long-term uptrend, but is approaching a critical resistance level in the short term. According to Crypto World analyst Josh, the Super Trend indicator remains red. Bitcoin is following a major downtrend and has not yet transitioned to a clear bull season despite short-term increases. The analyst notes that Bitcoin is forming higher lows, but more positive signals are needed for a bull season. A break above the $68,000 resistance level would instill confidence in both investors and the market.
Bitcoin recently broke out of a previous area between $60,200 and $61,200 to create a new support level. However, BTC is facing resistance between $64,100 and $64,500, and has had difficulty breaking through this level in the last 24 hours. If Bitcoin manages to stay above this level, the next major resistance will be between $67,000 and $68,000, which stands out as a strong resistance point based on past price action.
In the event of a short-term pullback, Bitcoin could find support around $63,000; the main support is between $60,000 and $61,000. The short-term trend remains bullish, but it should be noted that the price could face sell-offs at major resistance points before making further gains. In addition, the news flow related to the sector will also play an important role.
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