BTC on The Rise Above $68K

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BTC on the Road to Rise Above 68K

Bitcoin’s price has recently broken out from a robust Bullish Flag Pattern. The current weakness of the USD, coupled with speculations about a potential rate cut by the FOMC, is bolstering BTC and aiding the broader crypto market’s recovery.

On the 60-minute chart, the previously broken resistance has now turned into support, signaling a potential further rise.

Given the ongoing speculation surrounding the upcoming US PCE data, we might see BTC reaching
67K
and potentially 68.5K.

You May Find More Details in the Chart 📈

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Nota

BTC Price Analysis - Update

In our analysis from yesterday, Bitcoin's price developed well above the pattern, with the $64,800 area proving to be a very strong support level.
Following the mixed US PCE data, Bitcoin found the strength to rise further and is now nearing our first target.
The bullish momentum appears strong and may extend to reach the second target over the weekend.