Bitcoin (BTCUSD) Breaks Through the Confluence Zone

Btcusd Breaks The $64,000 Barrier To Rise Higher

BTCUSD breaks through the $64,000 barrier and confluence zone successfully, signaling the potential for further gains. After reaching an all-time high of $73,840, buyers were temporarily exhausted, causing the market to spiral downwards into a flag structure—a bullish reversal formation. The price ultimately plunged to a low of $57,000 before recovering and stabilizing above the critical $60,675 level.

BTCUSD Key Levels

Supply Levels: $69,000, $73,000, $73,850
Demand Levels: $59,000, $60,675, $64,000

At this critical level, the bulls have regained momentum, aiming to reclaim the high price levels from which the market had dropped. The first significant challenge, the confluence point of the flag’s upper border and the $64,000 key level has been bypassed excellently. Bitcoin now uses the momentum gained to continue climbing towards $73,000.

The MA period 40 (Moving Average) had formed a layer with the confluence point and has now been traded above, converting it into support for the burgeoning market. The MACD (Moving Average Convergence Divergence) lines have switched to an upward trajectory with bullish histogram bars accompanying them, reinforcing the bullish outlook.

Market Expectations

On the 4-hour timeframe, the market’s trajectory is clear as it rises above the confluence point, with the MA period 40 already acting as support. The MACD indicator in this timeframe has risen above the zero level, displaying visible bullish histogram bars. Crypto signals suggest there is a possibility of a retest before Bitcoin rises higher, indicating ongoing bullish momentum and potential for further gains.

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