$BTC
Are we at the beginning of a serious rise? A simplified analysis of Bitcoin's movement $BTC.
In the last week, we witnessed an interesting movement in the cryptocurrency market, led by Bitcoin $BTC which broke the $67,000 level with high trading volume. So what is happening? Are we facing the beginning of a new rise?
Technical Analysis:
1- The four-hour timeframe shows the RSI indicator signaling overbought conditions, which may indicate a slight correction before continuing to rise.
2- The MA50 moving average is still below the price, confirming the upward trend in the near term.
3- The next resistance point: $70,000
4- The current strong support: $64,200
Influential News:
1- Approval of a new Bitcoin investment fund in Europe.
2- Positive statements from the US Federal Reserve Chair regarding inflation.
Personal Predictions (not financial advice):
If Bitcoin stabilizes above $67k this week, we might see an attempt to break the $70k barrier soon. However, caution is required, as the market does not forgive the hasty.
Do you agree with the analysis? Share your opinion in the comments!
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