Bitcoin (BTC/USD) is currently trading at $69,675, showing little change with a -0.03% movement, suggesting a bullish Bitcoin price prediction.
The 4-hour chart reveals key price levels that traders should monitor. The pivot point is at $69,675, serving as a crucial benchmark. Immediate resistance levels are identified at $70,560, $71,944, and $73,300, suggesting potential upward targets if the bullish momentum continues.
On the downside, support levels are found at $68,990, $68,260, and $67,265, providing a safety net against further declines.
The Relative Strength Index (RSI) is 57, indicating neutral market momentum. Meanwhile, the 50-day Exponential Moving Average (EMA) is at $68,375, supporting the possibility of an uptrend continuation above $70,000.
The presence of an upward trendline further bolsters this bullish outlook. However, a break below the pivot point of $69,675 could trigger a sharp selling trend.
In conclusion, Bitcoin’s outlook remains bullish at $69,675, but a breach below this level could lead to significant downside pressure.
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