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After reaching the $65,000 range, Bitcoin is rebounding and is now consolidating above the 21-day SMA. BTC could likely continue to rise in the coming days and reach the 3/8 Murray level around $68,750. It could even reach the 200-day EMA around the psychological level of $70,000.
If, in the coming hours, Bitcoin falls toward $66,737 and consolidates above this zone, it could be seen as a signal to open long positions, with targets around $70,000 in the coming days.
If bullish momentum prevails, and Bitcoin consolidates above the 200 EMA and decisively breaks above the downtrend channel formed since March 15, this could be seen as a signal to buy, with targets at the 4/8 Murray level around $75,000.
If the price faces strong resistance around $70,000, we could look for opportunities to sell, with targets at the 2/8 Murray level around $62,500.
The indicator here is showing a positive signal for Bitcoin, so a pullback toward $66,700 or $65,000 could offer a buying opportunity in the coming days.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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