On a daily and 4-hour timeframe, there is currently an Inverse Head and Shoulder pattern.
$60700 - $59700 is the zone to keep an eye on.
As there's a previous support zone, a right shoulder, and a symmetric triangle support line, this is a great confluence area.
A breakout to the upside will easily get us to +$65k.
Fundamentally, there are both positive (ETF approval) and negative news (SEC regulations) to consider.
Currently, funding rates favors bears, and the fear and greed index is at +74. (greed)
If we break below this level, we'll likely see $55k-54k in the near future.
As of now, accumulating BTC on the spot at predetermined levels would be the best option. On futures, trade with caution and avoid going overleveraged.
$60700 - $59700 is the zone to keep an eye on.
As there's a previous support zone, a right shoulder, and a symmetric triangle support line, this is a great confluence area.
A breakout to the upside will easily get us to +$65k.
Fundamentally, there are both positive (ETF approval) and negative news (SEC regulations) to consider.
Currently, funding rates favors bears, and the fear and greed index is at +74. (greed)
If we break below this level, we'll likely see $55k-54k in the near future.
As of now, accumulating BTC on the spot at predetermined levels would be the best option. On futures, trade with caution and avoid going overleveraged.
