Bitcoin (BTCꦇ) could make more headlines today as the leading cryptocurrency’s price hovers around a three-m🃏onth high just below the closely watched $67,000 mark.

The digital asset, currently around 6% higher this week, has received a boost in recent days from significant inflows into 澳洲幸运5开🤪奖号码历史查询:꧑spot Bitcoin exchange traded funds (ETFs). So far this week, the 12 U.S. funds have amassed nearly $1.4 billion in net inflows, with the ETFs on track to record 澳洲幸运5开奖号码历史查询:strong weekly inflows.

The surge in ETF inflows indicate that the Federal Reserve’s half-percentage-point cut to its benchmark funds rate last month may be 澳洲幸运5开奖号码历史查询:renewing investor optimism for the broader asset class.

Below, we’ll take a close look at the 澳洲幸运5开奖号码历史查询:technicals on Bitcoin’s chart and point out key price leve✤ls to watch for.

Price Trades Within Symmetrical Triangle

Since topping out in early March, Bitcoin’s price has oscillated within a 澳洲幸运5开奖号码历史查询:symmetrical triangle, potentially 澳洲幸运5开奖号码历史查询:consolidating before breaking out above the pattern to continue a 𝐆longer-term uptrendℱ.

However, it’s worth pointing out that 澳洲幸运5开奖号码历史查询:trading volumes on Coinbase (COIN), the largest U.S 澳洲幸运5开奖号码历史查询:crypto exchange, have trended lower in recent months, indicating that many investors may still be on the sidelines, waiting for a decisive breakout.

Let’s turn to Bitcoin’s chart to forecast several potential 澳洲幸运5开奖号码历史查询:price targets above the cryptocurrency’s record high and identify two key 澳洲幸运5开奖号码历史查询:support levels investors may be watching.

Bullish Price Targets to Monitor

To project our first upside target, we’ll use the 澳洲幸运5开奖号码历史查询:measuring principle. This works by calculating🌄 the distance between the symmetrical triangle’s two trendlines near their widest point and adding that figure to the pattern’s top trendline. 💧For example, we add $24,000 to $68,500, which forecasts a price target of $92,500, around 38% above Bitcoin’s current price.

When forecasting a longer-term bullish move, we can apply a bars pattern. Such a technique uses historical trends on the chart to speculate how a future directional move may play out. In this case, we’ll take Bitcoin’s strong trend higher♈ that preceded the symmetrical ꧒triangle and reposition it from last month’s low, which projects an upside target of around $135,000.

Support Levels to Watch

Investors should monitor how the price responds to the key 澳洲幸运5开奖号码历史查询:psychological $60,000 level. This area on the chart could find support from the symmetrical triangle’s lower trendline and a range of comparable trading levels positioneꦜd around the cryptocurrency’s 2021 peak.

A 澳洲幸运5开奖号码历史查询:breakdown below the symmetrical triangle could see Bitcoin’s price drop to around $44,000, where investors may look for buying opportunities near a 澳洲幸运5开奖号码历史查询:horizontal line linking a series of 澳洲幸运5开奖号码历史查询:price action from February 2021 to January this year.

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