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BTCUSD Gears Up to Break the $69,000 Level
BTCUSD gears up to break through its all-time high, aiming to conquer the high-priced $69,000 after coming to test it. The ongoing impressive rally, extending from February into March, has seen Bitcoin surpass the crucial $64,000 key level, marking an impressive 80% increase in the past month.
BTCUSD Key Levels
Oanbiedingsnivo's: $ 64,000, $ 69,000
Fraachnivo's: $ 59,000, $ 50,000
The strategic breakout from the parallel channel has significantly contributed to the coin’s robust upward momentum. The current approach involves laying siege below the $69,000 level, exerting pressure to pave the way for a breakthrough. This tactic, previously successful in overcoming barriers, continues to guide Bitcoin towards its historic high.
The point of breakout from the parallel channel is reinforced by the support of MA period 20 (Moving Average) on the daily timeframe. The EFI (Elders Force Index) power line in this timeframe has surged significantly above the equilibrium level, emphasizing the prevailing bullish dominance in the current market sentiment.
Merkferwachtingen
Examining the 4-hour timeframe reveals candlesticks rebounding on the MA period 20 as Bitcoin rallies toward the critical $69,000 level. Each surge in price corresponds to a notable rise in the EFI power line above the zero level. While encountering obstacles may cause a temporary drop, the line remains above zero. Potential fluctuations in EFI may occur as the market approaches the $69,000 level. Nonetheless, Bitcoin maintains a predominantly bullish outlook, poised to establish an all-time high beyond $69,000.
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