Bitcoin's price remains within a strong range, with a support level at $65,118, and the upward movement appears limited due to high seller concentration at $72,271.
Despite price fluctuations, the (MACD) moving average convergence divergence indicator remains above the signal line on the daily chart. Additionally, expanding green histogram bars encourage traders to enter the market.
The (MFI), which measures the flow of money in and out of the Bitcoin market, has risen to 52, indicating buyer dominance. Any further increase in the Money Flow Index would support bullish momentum and increase the likelihood of Bitcoin surpassing the $72,271 barrier.
However, a daily close below the support level of $65,118, tested last Thursday, could accelerate the downward trend toward $60,000.
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Before00zero
· 13h ago
The price of Bitcoin remains within a narrow range, with support at $65,118 and resistance at $72,271 amid ongoing outflows from exchange-traded funds.
- Daily Chart: Bitcoin Breakout Strength Assessment:
Bitcoin's price remains within a strong range, with a support level at $65,118, and the upward movement appears limited due to high seller concentration at $72,271.
Despite price fluctuations, the (MACD) moving average convergence divergence indicator remains above the signal line on the daily chart. Additionally, expanding green histogram bars encourage traders to enter the market.
The (MFI), which measures the flow of money in and out of the Bitcoin market, has risen to 52, indicating buyer dominance. Any further increase in the Money Flow Index would support bullish momentum and increase the likelihood of Bitcoin surpassing the $72,271 barrier.
However, a daily close below the support level of $65,118, tested last Thursday, could accelerate the downward trend toward $60,000.
Daily BTC/USDT Chart
$BTC