Bitcoin is having fun in the range

After three days of decline, bitcoin returned to growth at auction on Tuesday. At the moment, the quotes rose above 64 thousand dollars, ending the day above the level of 63 thousand. Today, the main cryptocurrency is trading without a clearly defined movement vector, holding near the opening levels and above the 20-day moving average, which can regain its resistance status again in the event of a new wave of profit-taking within the established range.

In fact, the market picture does not show significant changes, and BTC remains in consolidation mode, located in a parallel channel after a partial correction from record highs that remain on the radars of market participants.

At the same time, the prospects for the digital currency remain favorable

Yesterday, the coin touched almost two-week highs, and this is a signal that players are ready to buy even at current levels, which means they believe in a new rally. In addition, last week attempts to more aggressively fall and test the $57,000 mark attracted quite active purchases, and this week the level of 59,000 acts as local support. The weekly charts also show the continuation of an upward bias, albeit modest.

In other words, bearish risks for bitcoin seem limited at the moment, while the prospects for updating historical highs remain in force. However, the fact that now the growth of BTC is slowing down, says the low attractiveness of the digital asset in the eyes of buyers at current levels. So, bitcoin may need a more aggressive correction below 55 thousand, which will form the conditions for entering the market with vigorous purchases.

On a longer-term horizon, the emergence of the trend of launching ETFs for bitcoin futures in the United States plays into the hands of BTC, where the regulator approaches the consideration of applications very harshly, but recently it has begun to signal mitigation.

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