Currently, Bitcoin is moving sideways between $62,000 and $66,000 after a strong rebound from the support level at $58,500. The 50-day moving average shows a slight upward trend, indicating that the bullish trend remains intact in the medium term.
Nearest support: $62,000 – breaking it could bring the price back to $60,000 then $58,500.
Key resistance: $66,000 – breaking it could open the way towards $70,000 then the all-time high at $73,000.
The Relative Strength Index (RSI) currently hovers around the 55 level, indicating that the price is in a neutral zone slightly leaning towards positive, without being overbought.
Technical Summary:
If a concrete trade agreement is announced between the United States and China, it could drive Bitcoin to break the resistance at $66,000, confirming a new upward wave. However, maintaining consolidation above $62,000 is essential to sustain this positive scenario.
