Bitcoin (BTCUSD) continued its decline yesterday, breaking through the support line of its bullish channel and reaching the key support level of $65,485.00. The EMA50 is currently aligning with this support, reinforcing its significance, while stochastic indicators are showing positive signals.
These factors suggest a potential bullish bias in the near term. Initial targets for Bitcoin are set at $67,075.00, with further upside potential extending to $68,450.00. However, if the price breaks below $65,485.00 and subsequently $64,880.00, it may negate the bullish outlook and lead to additional bearish corrections.
Today’s expected trading range is between $65,000.00 support and $68,000.00 resistance.
Trend Forecast: Bullish
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