Bitcoin Price Analysis: BTC/USD Ready to Surge as Market Consolidates

BTC/USD Daily Chart Analysis Trend Analysis: - The daily chart displays a persistent bullish trend characterized by higher highs and higher lows since late last year. - Although experiencing some consolidation and volatility recently, the price has managed to stay above crucial support levels. Support and Resistance Levels: - Immediate Support Level: 65,000, serving as a robust support in case of a price retreat. - Next Support Level: 62,400, a significant support level previously tested. - Immediate Resistance Level: 70,000, potentially hindering upward movements. - Next Resistance Level: 73,800, a critical resistance level aligned with recent highs. Technical Indicators: - Recent price action and candlestick patterns indicate consolidation within a bullish framework. - Positive overall momentum suggests the potential for further upward movements. Direction Preference: Considering the current bullish trend and higher time frame, a bullish trend is favored for BTC/USD in the short to medium term. The price is expected to progress towards resistance levels at 70,000 and possibly 73,800. Key levels to watch: - Pivot Price: 66,120 - Resistance: 70,000, 73,810, 76,500 - Support: 64,900, 62,400, 59,940 Conclusion: The BTC/USD daily chart supports a bullish trend with ongoing upward momentum. It is recommended to explore long positions, targeting resistance levels at 70,000 and 75,000. Keep an eye out for consolidation or pullback signals; however, the current bullish trend remains favorable for today and the near future.

The trade is active: the price has undergone a correction and is now continuing.