Bitcoin is still holding at the daily support level
Bitcoin is still holding at the daily support level, indicating strong buying interest and stability at this price point. We expect it to move upwards with a favorable risk-to-reward ratio, suggesting that the potential gains outweigh the risks involved. The key level to watch is the daily resistance at $70,500, which Bitcoin aims to break.
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This week is a crucial one for Bitcoin.
Wednesday: CPI index will be released.
Thursday: Federal fund rate announcement.
A significant volume of trades is awaiting these decisions.
Currently, the price is moving close to the 2020 ATH (All-Time High). If the news is positive, the price could reach the high liquidity zone of $74,000 and potentially $80,000, where a substantial amount of liquidity ($10 billion) has accumulated.
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This week is a crucial one for Bitcoin.
Wednesday: CPI index will be released.
Thursday: Federal fund rate announcement.
A significant volume of trades is awaiting these decisions.
Currently, the price is moving close to the 2020 ATH (All-Time High). If the news is positive, the price could reach the high liquidity zone of $74,000 and potentially $80,000, where a substantial amount of liquidity ($10 billion) has accumulated.
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