A Bitcoin Buying Opportunity on the Daily Timeframe

Bitcoin continues to move sideways after reaching demand zones on the daily timeframe.

Currently, signs of accumulation are beginning to appear, which suggests we may see a return to an upward trend for the cryptocurrency in the medium term. However, this is contingent on a breakout and close above the current resistance level shown on the chart.

Expected Targets

If a daily candle breaks and closes above the resistance level, specifically above $72,393, we expect to see the cryptocurrency rise to the targets of $78,100 and $83,300.

This bullish scenario will be invalidated if the price falls below $60,000 and closes below it on a daily candle.