Bitcoin/Potential Breakout as Price Consolidates 64900 and 70000
Bitcoin Technical Analysis
Current Outlook:
Bitcoin has surged from the demand zone, stabilizing above $64,905. Trading above $64,910 suggests further upward movement, potentially breaking $70,000. The price is expected to consolidate between $64,900 and $70,000 until a breakout.
Bullish Scenario:
If Bitcoin remains above $66,180 and $64,900, it could trend towards $70,000. Stability above $70,000 confirms a bullish trend, targeting $73,800.
Bearish Scenario:
Stabilizing below $62,400 targets $59,950. A 4-hour candle close below this level confirms a downtrend.
Key Levels:
- Pivot Line: $67,290
- Resistance: $70,000, $73,800, $76,500
- Support: $64,900, $62,410, $56,900
Expected Range:
Bitcoin is expected to move between $64,900 and $70,000, with a bullish bias.
Previous idea:
Current Outlook:
Bitcoin has surged from the demand zone, stabilizing above $64,905. Trading above $64,910 suggests further upward movement, potentially breaking $70,000. The price is expected to consolidate between $64,900 and $70,000 until a breakout.
Bullish Scenario:
If Bitcoin remains above $66,180 and $64,900, it could trend towards $70,000. Stability above $70,000 confirms a bullish trend, targeting $73,800.
Bearish Scenario:
Stabilizing below $62,400 targets $59,950. A 4-hour candle close below this level confirms a downtrend.
Key Levels:
- Pivot Line: $67,290
- Resistance: $70,000, $73,800, $76,500
- Support: $64,900, $62,410, $56,900
Expected Range:
Bitcoin is expected to move between $64,900 and $70,000, with a bullish bias.
Previous idea:
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