Bitcoin Price Surge: The BTC price has increased by 7.90% this week, peaking at the $64,000 mark, signaling strong bullish momentum.
Fibonacci Levels in Play: Bitcoin is testing the 50% Fibonacci level at $63,847, and a breakout could push it toward higher targets at $67,471, $73,679, and $85,832.
Death Cross Delayed: The upward momentum in BTC has delayed the potential death cross between the 50-day and 200-day EMAs.
Overbought RSI: The daily RSI for Bitcoin is nearing overbought territory at 63.60, indicating strong buying pressure.
Testing Key Resistance: BTC is testing the neckline of a rounding bottom at the 50% Fibonacci level, signaling a potential breakout toward the overhead trendline at $67,500.
Bullish Flag Pattern: A breakout above the overhead trendline could confirm the bullish flag, leading to a rapid price increase.
Minor Pullback Possible: Bitcoin may retest the $64,000 level before continuing its upward trajectory.
Fibonacci Levels in Play: Bitcoin is testing the 50% Fibonacci level at $63,847, and a breakout could push it toward higher targets at $67,471, $73,679, and $85,832.
Death Cross Delayed: The upward momentum in BTC has delayed the potential death cross between the 50-day and 200-day EMAs.
Overbought RSI: The daily RSI for Bitcoin is nearing overbought territory at 63.60, indicating strong buying pressure.
Testing Key Resistance: BTC is testing the neckline of a rounding bottom at the 50% Fibonacci level, signaling a potential breakout toward the overhead trendline at $67,500.
Bullish Flag Pattern: A breakout above the overhead trendline could confirm the bullish flag, leading to a rapid price increase.
Minor Pullback Possible: Bitcoin may retest the $64,000 level before continuing its upward trajectory.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.