Bitcoin : Extend the trend of increasing ?
The Bitcoin price chart presented shows a breakout above the previous downtrend line, indicating a bullish move. However, it’s approaching a key resistance level near $70,000. The chart suggests that the price may initially pull back to retest the support level around $65,892 before potentially resuming its upward trajectory toward $75,000 and beyond.
Two possible scenarios are depicted:
Bullish Scenario (Blue Path): After a minor correction to the $65,892 support, Bitcoin could resume its uptrend, targeting new highs around $75,000.
Bearish Scenario (Red Path): If the $65,892 support level does not hold, Bitcoin could see a deeper retracement back into the lower support zones, potentially around $63,843 or even $62,461 before finding enough strength to rebound.
Traders should closely monitor the support levels and the broader market sentiment for a clearer indication of the next move.
Two possible scenarios are depicted:
Bullish Scenario (Blue Path): After a minor correction to the $65,892 support, Bitcoin could resume its uptrend, targeting new highs around $75,000.
Bearish Scenario (Red Path): If the $65,892 support level does not hold, Bitcoin could see a deeper retracement back into the lower support zones, potentially around $63,843 or even $62,461 before finding enough strength to rebound.
Traders should closely monitor the support levels and the broader market sentiment for a clearer indication of the next move.
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Feragatname
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