Bitcoin (BTC) Showing Bullish Momentum – Short-Term Outlook
After analyzing recent BTC price action, the technical setup suggests a bullish short-term trend is underway. Here's a quick breakdown of what I'm seeing:
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🕵️♂️ Technical Highlights:
Support Holding at Key Level: BTC has consistently respected the support zone around $66,000, forming a solid base.
Bullish Engulfing Candle observed on the 4H chart, signaling strong buying pressure.
RSI is trending upward but still below the overbought zone, indicating room for further upside.
MACD has crossed bullishly with increasing histogram momentum.
A potential ascending triangle is forming, with resistance near $70,000 – a breakout above this could trigger a strong upward move.
Conclusion:
BTC is showing strong short-term bullish signals, with price action supported by both structure and indicators. A clean break above $70K with volume could pave the way for the next leg up.
As always, watch for confirmation and manage risk — volatility remains high