Full report on BTC, ETH and ETH/BTC

All the breakout and breakdown levels to watch

BTCUSD

Bitcoin has been trading within a strong resistance area ( red: 65K-68K), with the upper boundary acting as resistance. The uptrend remains intact. Typically, a breakout above the upper boundary of a rising trend channel is followed by a strong uptrend. A short consolidation just below the 65K-68K resistance and above the upper boundary at 60K is positive and suggests a pending breakout to all-time highs. So far, the price has held onto the gains, with 60K acting as short-term support. Further consolidation between 60K and 73.7K (green) may form a rectangle chart pattern. The only bearish possibility is a double top formation with a retest of 70K levels. A breakout above 73.7K would continue the uptrend, while a breakdown below 60K would confirm the latest consolidation as a double top, targeting 48K(blue). A quick retest of 60K and rebound can still be considered a pullback to the upper boundary of the channel.