Bitcoin (BTC) is heating up: Critical comment from experts.
Bitcoin is currently in a long-term uptrend, but it is approaching a critical resistance area in the shorter time frame. According to Crypto World analyst Josh, the Super Trend indicator remains red. Bitcoin is still following a major downtrend and has not yet clearly entered the bull season despite the short-term gains.
The analyst said that Bitcoin is showing signs of forming higher lows, but more is needed for the bull season. A breakout above the $68,000 resistance level would give confidence to both investors and the market.
Bitcoin recently broke out of a previous area that acted as a new support between $60,200 and $61,200. However, BTC is facing resistance between $64,100 and $64,500, and has struggled to break out of this level in the past day. If Bitcoin manages to stay above this level, the next major resistance will be between $67,000 and $68,000. This level is expected to act as a strong resistance based on past price action.
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