As the week draws to a close, market trends show a general upward movement, as reported by CoinStats.
The value of Bitcoin (BTC) has experienced a 1% increase compared to the previous day.
Examining the hourly chart reveals that BTC’s price is climbing following a breakout above the local resistance level set at $67,155. Should the daily candle finish well above this threshold, it could signal further gains pushing toward the $70,000 range.
Looking at longer time frames, traders should pay close attention to how candles close near the next significant resistance point around $71,673. A close at or beyond this level might indicate sufficient momentum for Bitcoin’s price to advance toward approximately $75,000.
From a medium-term perspective, bearish conditions persist as long as BTC remains below $76,600. Nevertheless, if weekly candlesticks manage to settle above this mark consistently, it may trigger expectations for an upward trend in Bitcoin’s midterm outlook.
At present moment of reporting, Bitcoin is trading near $68,&882.