Bitcoin Primed to Reclaim Strength Above $62,000 Key Level

Bitcoin (BTCUSD) Buyers Ready to Regain Stance

The Bitcoin crypto is poised to regain strength above the $62,000 key level. It is showing signs of renewed momentum as it consolidates around this level, with sellers appearing to step back after dominating the market flow. Following a sharp decline from the $66,610 high to the $60,500 support, BTCUSD is now attracting buying interest as it seeks to regain upward momentum.

Bitcoin Key Levels

Resistance Levels: $64,000, $66,610
Support Levels: $62,000, $60,500
Last week, market sentiment was largely bearish, with sellers pushing BTCUSD down to $60,500. However, recent recovery efforts have brought the BTCUSD coin close to $64,000 before a slight pullback to $62,000, where buyers are re-establishing their position.

The Parabolic SAR (Stop and Reverse) is currently indicating buy-side interest, suggesting buyers may be ready to take control. The Momentum Indicator, which showed recent lows, may be preparing for a reversal as buyers respond.

Although Bitcoin appears to be in a decline phase on the daily time frame, this could shift if buyers act swiftly to build momentum. With strength building among buyers, the Bitcoin price may make another move this week.

Market Expectation

Short-term charts reveal that both bulls and bears are active, with buyers striving to assert dominance around the $62,000 level. If the bulls manage a decisive break above $64,000, a push toward $66,610 could be possible.
However, sellers remain vigilant, ready to capitalize on any market weakness. Buyers need to act swiftly to establish stronger momentum and drive BTCUSD higher, using crypto signals as a guide for potential market moves.

Make money without lifting your fingers: Start using a world-class auto trading solution 

How To Buy Lucky Block

Note: Learn2.trade is not a financial advisor. Do your research before investing your funds in any financial asset, product, or event. We are not responsible for your investment results.