Corrective Phase and Regain
Our current outlook for Bitcoin suggests that, over the coming days, the asset may experience a short-term correction down to the key support level of $59,500.
This level has previously acted as a significant zone of buying interest, and we anticipate it could serve as a strong foundation for Bitcoin to establish new upward momentum.
Such a correction would allow for consolidation, enabling market participants to accumulate at a lower price point, which often leads to a healthier and more sustained uptrend.
Following this corrective phase, we expect Bitcoin to regain bullish momentum and start a new upward move. The initial targets for this movement are projected in the range of $64,000 to $66,000.
This level has previously acted as a significant zone of buying interest, and we anticipate it could serve as a strong foundation for Bitcoin to establish new upward momentum.
Such a correction would allow for consolidation, enabling market participants to accumulate at a lower price point, which often leads to a healthier and more sustained uptrend.
Following this corrective phase, we expect Bitcoin to regain bullish momentum and start a new upward move. The initial targets for this movement are projected in the range of $64,000 to $66,000.
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