Bitcoin (BTC) has recently experienced a decline, testing the previously breached resistance level of its bullish channel. For the cryptocurrency to maintain its upward momentum, it needs to stabilize and consolidate above these key levels. Successful consolidation here would support the continuation of the bullish trend, with the next major target set at $78,000.
However, if Bitcoin falls below $75,000 and then breaches the $73,820 mark, the bullish trend could be halted, potentially triggering a corrective downward pressure on the price.
For today, analysts anticipate Bitcoin’s trading range to fall between a support level at $73,800 and a resistance level at $78,000.
Trend Outlook: Bullish
Related topics: