Bitcoin price has experienced a strong rally in recent days, peaking at $65,473.80 before correcting to the $65,000 region. Currently, the price is trading around $65,406.62, indicating accumulation after setting a new short-term high.
Volume has been generally stable, with some volume peaks appearing at BOS points. While volume has not really exploded, it is enough to support the recent price increase. Monitoring volume in the coming days will be important to confirm the trend.
The RSI indicator is currently at 69.14, which is not yet overbought. This shows that Bitcoin price still has potential for growth, but it is also worth noting the possibility of a correction if the RSI approaches the overbought zone (70-80).
The $65,500 area is acting as the nearest resistance. Above this level, the next target could be the old high around $66,000.
The $62,500 - $62,750 zone is identified as a strong support zone (Strong Low). This is an important price zone that needs to be held to maintain the uptrend.
Short-term: Bitcoin price may continue to fluctuate in the $64,500 - $65,500 range in the short-term. A break of the $65,500 resistance on high volume could pave the way for a rally towards $66,000 and higher.
Medium-term: If Bitcoin holds strong support and breaks above the $66,000 resistance, the medium-term uptrend could be reinforced. The next target could be the $68,000 - $70,000 zone.
Negative scenario: If Bitcoin price breaks below the $62,500 support zone, a deeper correction towards lower support zones, such as the $60,000 zone, is possible.
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