Bitcoin Price Prediction as $17 Billion Trading Volume Comes In – Are Chinese Whales Buying?

Bitcoin continues to trade with a bullish bias, holding above the pivot point support area of $66,680. The 50 EMA is supporting the buying trend in Bitcoin, and the RSI is also holding above 50, suggesting continued upward momentum.,The formation of Doji candles over the pivot point indicates a neutral sentiment, but the overall outlook remains positive as long as Bitcoin holds above this critical level.,If Bitcoin maintains its position above the $66,680 pivot point, it could drive prices higher towards the identified resistance levels at $69,296, $71,090, and $72,809. However, a break below this pivot point could trigger a sharp selling trend, pushing the price towards the support levels at $64,662, $63,299, and $61,517. The market’s reaction to these key levels will be vital in determining Bitcoin’s near-term direction.,In conclusion,
Bitcoin’s technical outlook remains bullish above the $66,680 pivot point. The immediate resistance at $69,296 will be the first hurdle to overcome, followed by $71,090 and $72,809.,The RSI’s current level suggests that there is room for further gains, although caution is warranted if Bitcoin falls below the pivot point.,The 50-day EMA at $64,739 provides a solid base for the ongoing uptrend. Traders should monitor these key levels closely, as the market’s response will dictate the next phase of Bitcoin’s price movement.,