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Bitcoin is trading around the psychological level of $70,000, showing some consolidation having reached the top of the uptrend channel forming since March 19.
A sharp break of the pennant pattern could cause an upward movement that could reach the $73,000 area. Once surpassed, the crypto could climb the psychological level of $75,000.
At current price levels, we can look for opportunities to buy with targets at 72,042 and 72,800. On the contrary, a technical bounce around 3/8 Murray and the 21 SMA will be seen as an opportunity to buy with the target at 73,200.
A drop below $68,000 could change Bitcoin's trend and we could expect a bearish continuation towards the bottom of the uptrend channel around 65,500.
Technically, Bitcoin is showing signs of a strong upward trend which is mirrored by the eagle indicator. Therefore, any technical correction or rebound in the coming days will be seen as an opportunity to buy.
¡Los informes analíticos de InstaForex lo mantendrá bien informado de las tendencias del mercado! Al ser un cliente de InstaForex, se le proporciona una gran cantidad de servicios gratuitos para una operación eficiente.
