Bitcoin Price Prediction: Will BTC Surge Before a Potential Pullback?

Yesterday, the price briefly rose to around 62,000 before falling as anticipated. It then dropped to approximately 61,270 before seeing another rebound, failing to surpass the previous peak of 62,320. Today, it dipped to about 61,140 encountering resistance once more. Despite these fluctuations, the overall trend appears bearish, suggesting a preference for selling at higher levels. Trading recommendation: Consider selling if the price reaches the resistance zone of 62,000-62,320, targeting 60,600. A breakthrough above 62,320 could indicate a short-term upward trend. I will provide updated market analysis promptly in my guidance group as needed.

After hovering around the 60600 mark for an extended period, the price has now dropped below this crucial level, signaling a significant downturn. The 60600 price point was seen as the dividing line between long and short positions. If there is a bounce back from this level, there might be a chance for a reversal in the downward trend. However, with BTC trading below 60600, it is advisable to maintain a bearish outlook in the short term. Trading tip: Consider selling if the price rebounds to the resistance range of 60550-60800, with a target price range of 59000-59500. Please note that the trading suggestions provided are for informational purposes only. For updated market analysis and guidance, stay tuned to my advisory group.