Historical price trends suggest a strong possibility that BTC could rebound and climb to $67,000. However, if it fails to maintain this level, it might drop to $47,500 or lower.

Mixed Sentiment from On-chain Metrics
In addition to technical analysis, CoinGlass's BTC Long/Short Ratio serves as a key sentiment indicator, reflecting market opinions. The ratio is currently around 0.965, signaling a bearish outlook. The data also reveals that 51% of top traders are holding short positions, while 49% are long.
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