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BTCUSD Bulls Push For Expansion Amidst Consolidation Phase
BTCUSD bulls aim to break through the $72,090 key level. The cryptocurrency market has been on edge, with buyers striving to attain a breakthrough at the $72,090 significant level. This level has been a strong resistance for buyers to penetrate. For the past few months, Bitcoin has been attempting to overcome this level, facing multiple rejections. However, the bulls have not given up and have been gaining strength, particularly since March and April.
BTCUSD Key Zones
Resistance Zones: $72,090, $67,370
Support Zones: $60,750, $56,850
In May, the bulls managed to break through the $67,370 significant level. This has now become the hallmark of where the price is consolidating this week. After failing to breach the $72,090 price level, the crypto price has struggled in consolidation.
Currently, the buyers are targeting another breakthrough at the $72,090 level. A successful attempt could ignite a bullish extension beyond this market zone. However, if the sellers gain strength, Bitcoin may pull back into consolidation.
Market Expectation
The momentum indicator is rising, but the Stochastic is trading on the overbought side, indicating potential selling pressure. Traders and investors will need to closely monitor these signals to gauge the market’s direction. In the short term, the buyers are still aiming higher. The key level ahead can be a challenging area for buyers to penetrate. They will need to reinforce their buying strength as they approach this challenge. Crypto signals suggests that if Bitcoin faces rejection, it implies that the market is likely to remain in a ranging phase.
How To Buy Lucky Block
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