BTC/USDT DAILY TIMEFRAME 
2024-10-26

BTC/USDT Daily Analysis: Key Scenarios

Bitcoin (BTC) is currently trading around $67,034 with a minor decline of 1.71%, but remains in an overall bullish trend. The market is approaching key resistance and support levels, offering two potential scenarios for the near-term price action.

Scenario 1: Bullish Breakout

If BTC breaks above $69,705, it may continue to climb towards $73,768 and beyond, potentially aiming for new highs. The price is following a strong upward trendline, which supports continued bullish momentum.

Scenario 2: Pullback and Consolidation

Alternatively, BTC may face rejection at $69,705, leading to a pullback toward $60,946. This would allow for consolidation before another upward push, maintaining the overall bullish structure.

Conclusion

BTC is at a critical point. A breakout above $69,705 could lead to significant gains, while a pullback to $60,946 would be a healthy retracement before resuming the upward trend. The broader outlook remains bullish.