Bitcoin
Here is the roadmap for BTC price in the next 48 hours!
Since BTC Price climbed above a major resistance at $64,000, the price remained consolidated within a range. The bears were somewhat dominant in the past few days but appear to have remained dormant since the early trading session. This could have offered a strong boost to the bulls, but the current trade setup suggests that the price is stuck in a decisive phase.
Bitcoin has made some corrections in the short term, but the bulls remain vigilant as the support at $64,000 has been defended. However, the support zone is expected to become fragile after some time, which may drain the price lower. The STF trade setup suggests that the price may drop to $63,300 during the weekend, which may increase the volatility of the entire crypto space.
The short-term BTC price chart suggests that the token is trading inside a decisive triangle after breaking above the descending parallel channel. The bulls and bears have a restricted approach due to which the price remains entangled within the zone. Moreover, the StochRSI is trying to trigger a bounce from the oversold zone, which should offer a strong boost to the BTC price. However, to trigger this, the price needs to fall to the lower support of the triangle below $63,500.
The bulls seem to be waiting for a buying opportunity, while the bears are waiting for a bigger target to extract profits. Weekends have been a watershed for the Bitcoin price in recent times and hence, the next few days could drag the prices lower, followed by a notable recovery in the price.
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