Bitcoin Bulls Fight Back: Breakout Above $68K Could Pave the Way to $75K

Market Analysis by Investing.com (Günay Caymaz) covering: BTC/USD. Read Investing.com (Günay Caymaz)'s Market Analysis on Investing.com

This recovery reflects the optimism building ahead of Trump's appearance at the Bitcoin conference.experienced a volatile week, initially dipping to support levels before staging a strong recovery. The cryptocurrency bounced back from a low of $63,450 to reach a high of $67,000, representing a 5% move.

The recent price action has formed a bullish needle candlestick pattern, reinforcing the potential for further gains. Key levels to watch are $65,300 and $67,850, which will influence the trend's direction. If Bitcoin closes the week around $68,000, it could aim for a new record high next week.The weekly chart shows a positive signal with the Stochastic RSI turning upward, reflecting last week's bullish momentum.

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