Bitcoin (BTC) Price Analysis: Inside a Narrow Range, Bulls Aim for $70K, Bears Eye $66K

Bitcoin is inside a narrow range, defined by the Friday bear bar. Overall, the sentiment is bullish, and traders expect prices to exceed expectations

Bitcoin price analysis is bullish today as we saw a slight move higher and consolidation above $66,000. Therefore, bears are now exhausted, and we expect BTC/USD to continue higher next week.

Bitcoin price analysis is bullish today as we saw a slight move higher and consolidation above $66,000. Therefore, bears are now exhausted, and we expect BTC/USD to continue higher next week.

BTC/USD opened the week with a strong rally to the $67,000 mark. From there, bears pushed the market lower, and Bitcoin price reached a new low of $65,800. Later, BTC/USD recovered and consolidated above the $66,000 support level. In the early hours of today, the pair attempted to rally once again, but the upside was capped at $66,400.

Bitcoin price chart on the daily timeframe

After a brief period of consolidation, Bitcoin price started to decline again. The bears pushed the market lower, and the BTC/USD pair reached a new daily low of $65,800. However, the bears were unable to sustain the selling pressure, and the pair quickly recovered.

Later in the day, the bulls attempted to rally the market once again. The BTC/USD pair rose to a high of $66,400, but the upside was capped. From there, the pair consolidated and closed the day at $66,100.

Overall, the Bitcoin price analysis is bullish today as we saw a slight move higher and consolidation above the $66,000 support level. The bears are now exhausted, and we expect BTC/USD to continue higher next week.

Key technical points:

Resistance levels: $67,000, $67,500, $68,000

Support levels: $66,000, $65,500, $65,000

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