Bitcoin Price Prediction: Will BTC Reach New All-Time Highs Soon?

BTC recently experienced a significant correction from its all-time highs down to $60,779.88. However, the price rebounded from this level, signaling the completion of an extended WXY correction. I anticipated a bullish movement, entering my initial position at $63,000. The price held above $63,000, confirming the correction's end and suggesting further upward movement. BTC surged past $65,000, indicating a potential continuation of the upward trend. This level serves as a good entry point for a second long position, aiming to reach new all-time highs. It's essential to note that any price dips below $65,000 are likely due to long orders being triggered and should not prompt selling. If BTC drops below this level, we may see a correction towards $60,000-59,000. With BTC's resilience above $65,000, the outlook remains bullish. Remember to adjust your stop-loss accordingly, with a recommended level at $63,560. Always trade responsibly and ensure security by following safety guidelines.

For confirmation, it is advisable to wait for the current hourly candle to close above the 65K mark. Subsequently, the following hourly candle should attempt to dip below this price point, and if it bounces back, that would serve as the confirmation signal to enter a long position.

Trade in progress