Bitcoin (BTCUSD) Price Analysis
Bitcoin’s price (BTCUSD) has opened today with a significant rise, surpassing our initial target at $63,060. The price has also completed the formation of a double bottom pattern, signaling positive momentum with targets set to reach $65,485 as the next major level. A breach above this level could lead to further gains over the longer term.
The bullish trend is expected to continue in the coming period, with a key condition being the price holding above $62,000 to sustain momentum towards the suggested targets and avoid a reversal to decline.
Expected Trading Range
Market analysis indicates a trading range with support at $62,000 and resistance at $65,485 for the immediate trading sessions.
Trend Forecast: Bullish
The trend forecast maintains a bullish outlook for Bitcoin (BTCUSD) in the near term.
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