Managing to protect a critical area as a support Bitcoin (BTC)winked at the rise.

A turbulent price structure in recent days Bitcoinhas gradually gained bullish momentum. After testing $62,000, the pioneer of cryptocurrencies turned its course upwards, creating a positive mood across the market. Will BTC, which made an upward move for the first time after Halving, be able to maintain its bullish price structure? Which trend in BTC

Bitcoin outlook turns positive!

Bitcoin, which has been on a downward trend in recent days, managed to maintain the $ 62,000 – $ 63,000 range as support. The leader of cryptocurrencies, which advanced to the minor resistance level with the reaction it received from this region, gave investors some confidence. BTC, which changed hands at $ 63,812 as of the writing of the news, can target the upper levels if the geopolitical chaos subsides, the news flow evolves positively or the FED interest rates decline.

In such a scenario, the levels to be followed as resistance would be 64,534 – 67,091 – 69,017 – 71,289 and 73,684 dollars respectively. Factors such as the re-intensification of Israeli-Iranian tensions, negative news about the sector or the FED’s tight interest rate policy will create selling pressure on BTC. In such a scenario, the levels that can be followed for retracement will be 63,000 – 62,000 – 60,810 – 59,009 – 56,622 and 54,966 dollars respectively.

The green area is critical in the short/medium term price structure. Every process that stays above this area will strengthen the hand of buyers over time. However, in the opposite process, sales-oriented transactions for BTC may show weight and lead to volatile price movements.