Part 5/7:
One of the main takeaways from the analysis is the urgency for Bitcoin to reclaim ground above the 21-week moving average. If it can swiftly move past this level, it would signify a potential bullish scenario. However, there remains a risk of further downside, which could even see the price falter below previous lows set in March. The discussion touches on vital price levels such as:
Immediate Support Levels: 65k - 70k
Critical Resistance Levels: 88-89k (21-week MA) and 95k
If Bitcoin does break these resistance levels in a forthcoming rally, it could indicate that it has effectively bottomed out.