BTC is trading at $64,384.46, after successfully retesting the $62,000 support zone. The price is in an uptrend and is trying to break out of the $64,000 resistance zone.

  • Trading volume during the recent rally was quite stable, showing relatively strong buying power.

  • However, the volume at the current resistance zone has not really exploded, need to monitor further to confirm buying power.

  • BTC may be in the "Markup" phase of the Wyckoff Accumulation model.

  • If the price breaks above the $64,000 resistance with high volume and successfully retests, this could be a confirmation signal of the uptrend and open the door for a stronger rally.

  • RSI: RSI is at 68, indicating that the market is in an uptrend.

  • MACD: MACD is above the signal line and trending up, supporting the uptrend.

  • Nearest Resistance: $64,000, $64,384.46, $66,000

  • Nearest Support: $62,000, $60,000

Short-term: BTC could continue to rise and test the $66,000 resistance zone.

Medium-term: If the $66,000 resistance zone is broken, BTC could aim for $70,000 - $75,000.

Long Term: BTC's long term trend remains bullish.

  • Buy: Consider buying on a pullback to the $62,000 support zone or a breakout from the $64,000 resistance zone on high volume.

  • Sell: Consider selling to take profit when price reaches resistance zone of $66,000 or $70,000.

$BTC

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