Bitcoin is showing strong bullish momentum after bouncing from the $57,746 swing low. Price is trading around $61,900–62,000, where a major resistance zone is currently being tested. The recent rally has been supported by strong buying pressure, and the price is trading above all major moving averages (MA5, MA10, MA30), confirming that buyers remain in control.

However, Bitcoin is now approaching a key supply zone. A breakout above this level could trigger the next leg higher, while rejection may lead to a short-term pullback before continuation.

📊 Key Support Levels

🟢 Support 1: $61,700 – $61,400 (Immediate support)
🟢 Support 2: $60,700 (Strong demand zone)
🟢 Major Support: $59,000 – $58,900

🚀 Key Resistance Levels

🔴 Resistance 1: $62,000 – $62,100 (Current resistance)
🔴 Resistance 2: $62,480 (Recent swing high)
🔴 Major Resistance: $63,200 – $64,250

📈 Technical Outlook

✅ Price is above all major moving averages (Bullish).

✅ MACD remains positive, showing buying momentum, although momentum is slowing slightly near resistance.

✅ Higher highs and higher lows continue to favor the bulls.

🎯 Trading Scenarios

Bullish: A strong 4H candle close above $62,480 could open the way toward $63,200 and $64,250.

Bearish: If Bitcoin fails to break $62,000–62,480, expect a healthy pullback toward $61,400 or $60,700 before buyers may step in again.

⚠️ Conclusion: The overall trend remains bullish, but Bitcoin is trading at a crucial resistance zone. Traders should wait for either a confirmed breakout or a pullback to support before entering new positions.

Ai_Power 🚀
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