🚨🚨BTC Price Analysis: Is Bitcoin Targeting $70K in the Short Term?🚀🚀🚀🎯
On the daily chart, the price has finally broken above the $64K level and the 200-day moving average, which is located around the same mark.
With the RSI also showing a clear bullish momentum, the cryptocurrency will likely continue its uptrend toward the $68K resistance zone in the short term.
Otherwise, in case of a correction, the 200-day moving average is still likely to hold the price and push the market higher.
Looking at the 4-hour timeframe, the price has been creating higher highs and lows ever since its rebound from the $52K support level.
The market’s bullish move has created a clear trendline, which has been supporting Bitcoin for weeks. If this trend remains intact, it will only be a matter of time before the market reaches the $68K level.
On the other hand, if the trendline gets broken to the downside, at least a pullback to the $60K level would be probable.