The bitcoin BTC price situation is extremely tense and a decision is approaching that is likely to shape the picture in the medium term.
The upper resistance area and the trend channel are playing against each other. The resistance zone, marked in red on the chart, appears to be a massive hurdle, which 13 daily candles have now failed to clear.
On the other side is the trend channel, which supports the price from below and pushes it further upwards.
Long scenario
If the upper resistance area can be broken, a strong dynamic long move is expected. The first price target of a breakout is around USD 70,000.
Short scenario
The resistance area pushes the price out of the trend channel. The consequence is likely to be a partly stormy correction. Two price targets can be identified, which lie at approx. 50,000 USD & in the further course at approx. 41,000 USd.