Bitcoin (BTC/USD) Price Analysis
Expected Scenario
Bitcoin price (BTC/USD) successfully reached our anticipated target at $60,330.00 and made attempts to surpass it, experiencing additional losses down to approximately $58,230.00. However, it rebounded bullishly, settling above the initial target level and now aims to achieve further gains in upcoming sessions. The next objectives are to test $63,310.00 followed by $64,415.00 as significant resistance levels.
Today, a bullish bias is suggested, contingent on the price holding above $60,330.00. A break below this level and sustained trading below it would negate the expected rise, potentially initiating a bearish correction with a target around $56,160.00.
Expected Trading Range
Traders can expect Bitcoin to trade within a range of $60,000.00 support to $64,400.00 resistance.
Trend Forecast
The trend forecast for Bitcoin (BTC/USD) remains bullish, supported by recent price movements and technical indicators.
Investors and traders should closely monitor these levels to navigate today’s cryptocurrency market effectively.
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