Will Bitcoin
$BTC continue its upward journey within the channel? 🚀
The technical analysis shown in BTCUSDT on the 30m timeframe indicates positive movement for Bitcoin; the price successfully formed a bottom at $59,130, bouncing back strongly to create a "bullish channel" reflecting a return of buying momentum in the market.
Here’s the technical read on the current scene:
Price Action: The price is currently trading at $63,263, stabilizing above the pivot point, indicating serious attempts to maintain the short-term bullish trend.
Pivot Point (PP): Located at $62,332, this area represents the "balance line"; holding above it keeps the outlook positive.
Resistance Levels (Targets): The price faces immediate resistance at $63,728, and if it breaks through, eyes will turn to $64,764, then $66,161, reaching the further target at $67,476.
Support Levels (Protection Zones): The areas of $61,184 and $60,101 remain the defensive lines protecting the bullish channel from any potential selling pressure.
In your opinion, do we see Bitcoin breaking the current resistance barrier and pushing towards testing the 65K areas, or will we witness a return to test the support levels? 🧐
#بيتكوين #BTC #BTCUSDT #Binance #AYMONACCI