Bitcoin Price Update

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As expected, the rally from the $58,500 area continues. $63k is now a critical level.

1. The daily close back above the range is very encouraging for bulls.

2. Has been in range POC since early March. This is a good place to take a TP long trade, wait for price to find support above 60k if we can get support.

3. Open interest is still down 8% since last time at current prices. Many altcoins are still low while funding rates remain neutral to slightly positive. The market is certainly not overheated as it has been in past rallies.

4. Opening directly higher requires caution, remember to take profits and go for long pullbacks, not rallies.

If we hold 63.5 firmly, I would add to my long position.