$BTC

Trends have reversed to Uptrend again after price price broke above $60K resistance and out of Symmetrical Triangle pattern, and it successfully retested that breakout level. It also broke through the $64.4K resistance and 200-day moving average, and could revisit $70K-$72K. Price is approaching that resistance zone. We would be buyers on pullbacks to $64K support area. Stop Loss at $58K.

Pattern: Price is Approaching Resistance, which is a level where it could pause or reverse its recent advance, at least temporarily. Resistance is often a level where price got rejected in the past, or potentially prior Support level that was broken. (concept known as polarity). Once price breaks above resistance, it can advance higher to the next resistance level.

Trend: Short-term trend is Up, Medium-term trend is Strong Up, Long-term trend is Up.

Momentum: Price is neither overbought nor oversold currently, based on RSI-14 levels (RSI > 30 and RSI < 70).

Support and Resistance: Nearest Support Zone is $56,500.00, then $50,000.00. Nearest Resistance Zone is $72,000.00.