Technical Analysis of Bitcoin BTC - Is the Price Explosion Imminent?
In recent trading sessions, Bitcoin shows interesting technical signs as prices approach a pivotal resistance area around $65,000, which forms a bottleneck for the upcoming trend.
A look at the chart (daily frame):
Bitcoin has been moving within an ascending triangle for weeks, with a clear convergence of the rising peaks and support stabilizing around $61,000. This pattern is considered a classic signal for a potential strong breakout.
Technical Indicators:
The Relative Strength Index (RSI) is moving at levels of 60-65, indicating positive momentum that has not yet reached saturation.
The 50-day moving average maintains its support at $62,500, reinforcing the outlook for the continuation of the upward trend.
Decisive Point: If Bitcoin can break through the strong resistance at $65,000 firmly, we may witness a rapid upward wave targeting levels of $70,000 and possibly $75,000.
Conversely, breaking support at $61,000 may push the price to test the $58,500 area.
Are we on the brink of a historic upward wave?
Monitor the movement closely, as markets may be on the verge of a decisive decision in the coming days.
