Bitcoin Explodes Above $63K as the Bulls Eye This Level Next (BTC Price Analysis)

Crypto Blog

Bitcoin’s price has been going through some major moves throughout the past couple of weeks. The bulls are fighting to reestablish their dominance, staging a convincing recovery above $60K. But will it last?

However, BTC quickly rebounded and climbed back inside the channel, making a fake bearish breakout. With the $60K level also turning into support, the price will likely target the $68K resistance level in the short term.Looking at the 4-hour chart, it is evident that the price has quickly recovered from below the channel and the $60K level. The midline of the descending channel is now the next target.

While Bitcoin’s price has been trading below the $75K level, many market participants have been offloading their coins as they assume that the bull market might be over or a much deeper pullback is probable. However, miners are not in this group.

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