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BTC/USD is trading around $68,935 above the 21 SMA and around the 3/8 Murray, showing a positive signal.
Bitcoin could continue to rise in the coming hours until it reaches the 4/8 Murray around $75,000. It could even reach the upper band of the uptrend channel around $76,000.
After finding good support at the bottom of the uptrend channel around $66,000, Bitcoin is rebounding and now showing a positive bias. We could see this as an opportunity to buy in the coming hours.
If Bitcoin consolidates above the 200 EMA around $70,541, this could mean that the price could enter a new zone to challenge $75,000, which could be considered a signal to buy.
If there is a pullback towards the 21 SMA located at $67,711 or to $66,500, where the lower band of the uptrend channel is located, we could see this as an opportunity to open long positions.
The Eagle indicator is showing a positive signal, so any pullback in the coming hours, as long as the BTC price trades within its uptrend channel, will be considered a signal to buy.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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