Summary: BTC is in a correction phase but holding near a potential reversal zone. If price stays above $40,000, a short-term bounce toward $42K is likely. A break below $39,500 could extend the downtrend.
If you want, I can also create another analysis picture with Buy/Sell/SL levels included.
Price Trend: $BITCOIN remains in a strong long-term uptrend, with short-term consolidation as buyers and sellers battle near key resistance levels.
Key Levels:
Support: $60,000 – $62,000
Resistance: $70,000 – $72,000
Market Sentiment: Overall sentiment is bullish, supported by institutional interest and growing spot ETF demand. However, short-term pullbacks are normal due to profit-taking.
Outlook: If BTC breaks above resistance, it could target higher levels. A drop below support may trigger a temporary correction.