The Bitcoin price (BTCUSD) recently faced temporary downward pressure, finding support along the bullish channel’s support line visible on the chart. It has since begun to initiate upward movements again, with stochastic indicators currently showing positive overlap. This signals potential momentum for Bitcoin to resume its anticipated bullish trend over both intraday and short-term periods. Initial targets for this bullish outlook include breaching $65,485 to confirm a path towards $67,050 and subsequently $68,660 as the next key milestones.
Maintaining this upward trajectory, we anticipate a continuation of the bullish trend in the near future. However, a decline below $63,775 could halt the current bullish wave, potentially leading to a period of bearish correction before any further upward movement.
Today’s expected trading range spans from support at $63,500 to resistance at $67,000.
Trend Forecast: Bullish
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