BTC/USD Approaches Critical Resistance: Breakout or Pullback?

21 Okt

Based on the BTC/USD chart, the price is approaching a significant resistance zone near the ATH (All-Time High) at 73,814. A breakout above this level could lead to a strong upward movement, with potential targets at 76,377 and higher, possibly reaching new ATH levels around 90,000 and 100,000 USD per Bitcoin.

However, if the price faces resistance at this zone, a pullback could occur towards the first support area around 64,905 (pivot line). Should the decline continue, the next support levels are at 62,407 and 59,944, with a stronger correction likely if these levels are breached.

Key Levels:

Resistance Area: 73,814 (ATH), 76,377
Support Areas: 64,905, 62,407, 59,944
Potential Demand Zone: 52,791

Directional Outlook:

• Bullish: A breakout above 73,814 could signal a bullish rally toward 90,000 and 100,000.
  
• Bearish: A failure to break through the resistance at 73,814 may result in a pullback toward the support levels, with 64,905 being the first target.
  
  In summary, the current trend is bullish as long as BTC/USD remains above the pivot zone, with strong resistance ahead. A breakout will be key for further upward momentum.
  
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