๐ Bitcoin Short-Term Update ($BTC)
Bitcoin has finally retested the $65.7K level that has been on the radar for nearly two months. This area marks the previous weekly Break of Structure (BOS), making it a key resistance zone.
After the strong rally over the past 24 hours, price is showing signs of reacting to this resistance. A rejection here, followed by a pullback toward the $64K high-volume support zone (VRVP), would be a normal and healthy move.
Despite the recent bullish momentum, it's still too early to confirm a larger uptrend. For the bullish case to gain strength, Bitcoin needs to reclaim the $65.7Kโ$66K range and close the week above it.
The weekly close will likely determine the next major direction: ๐ Above $66K: Higher probability of a broader bullish continuation. ๐ Below $65.7K: The risk of another downside move remains.
Keep a close eye on price action as the week unfolds.
#Bitcoin #BTC #Crypto #CryptoTrading #TechnicalAnalysis #BreakOfStructure #VRVP #SupportAndResistance #CryptoMarket #Trading
Bitcoin has finally retested the $65.7K level that has been on the radar for nearly two months. This area marks the previous weekly Break of Structure (BOS), making it a key resistance zone.
After the strong rally over the past 24 hours, price is showing signs of reacting to this resistance. A rejection here, followed by a pullback toward the $64K high-volume support zone (VRVP), would be a normal and healthy move.
Despite the recent bullish momentum, it's still too early to confirm a larger uptrend. For the bullish case to gain strength, Bitcoin needs to reclaim the $65.7Kโ$66K range and close the week above it.
The weekly close will likely determine the next major direction: ๐ Above $66K: Higher probability of a broader bullish continuation. ๐ Below $65.7K: The risk of another downside move remains.
Keep a close eye on price action as the week unfolds.
#Bitcoin #BTC #Crypto #CryptoTrading #TechnicalAnalysis #BreakOfStructure #VRVP #SupportAndResistance #CryptoMarket #Trading