Bitcoin (BTC) price has increased by 2% since yesterday. This article examines the current market situation and price forecast for the upcoming week.
Current Situation Analysis
At the end of the week, buyers keep holding the initiative. Despite today's rise, the BTC rate remains bullish on the hourly chart. If the candle closes near the $65,781 level or above, growth may continue to the $66,000 zone.
Short-Term Analysis
On a larger time frame, traders should focus on the bar's closure in relation to yesterday's peak. If it happens far from it, traders might witness a correction to the $65,000 range over the weekend.
Long-Term Forecast
On the weekly chart, the BTC rate is in the middle of the wide channel. If the candle closes around current prices, sideways trading in the zone of $65,000-$70,000 is the most likely scenario.
Bitcoin is trading at $65,781 at press time. In the near future, growth to $66,000 is possible, but a short-term correction to the $65,000 level is also not excluded.
