$BTC Bitcoin Forecast (BTC/USD):

Bitcoin has been somewhat bored for a while after its dramatic drop from record highs last year.

However, this began to change at the beginning of this week, when the price finally started to break through to new highs beyond the $75,000 mark, which had long held the price as a resistance area.

The breakthrough, however, quickly failed and the price is moving lower with a short-term bearish momentum, as we see the price has fallen below the bearish head and shoulders neckline at approximately $74,000.

Despite these bearish signals, the price still easily holds in the rising price channel, which is depicted as a linear regression analysis in the price chart.

This suggests that the technical picture remains essentially bullish.

Given the rising price channel, I think any bullish bounce at any of the two nearest support levels could be an interesting long trade.

However, if the price manages to break new highs, it will be good to note that the price could rise up to $81,203 without hitting resistance.

#CryptoMarketRebounds #USDCFreezeDebate #MarketCorrectionBuyOrHODL?