Bitcoin’s price successfully reached the anticipated target of $56,160, where it encountered solid support. This led to some bullish movement, suggesting a potential test of the key resistance at $60,326.70. However, the conflicting signals from technical indicators create uncertainty, making it prudent to remain cautious until a clearer trend direction is confirmed by surpassing one of these critical levels.
If the price breaks below the $56,160 support, it could decline further towards the next correctional target at $51,990. Conversely, if Bitcoin breaches the $60,326.70 resistance, it may signal a recovery, with potential gains initially targeting $62,725 and possibly extending to $65,483.
The expected trading range for today is between $55,800 support and $60,200 resistance.
Trend Forecast: Neutral
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