Bitcoin's Breakout: Will It Soar or Stall?

Short-Term (1-Hour Chart):

Support Levels: The green lines indicate key support zones at 62,923 and 56,220. If BTC drops, these are likely the levels where the price may bounce back.

Resistance Levels: On the upside, we see resistance levels at 66,099 and 72,060. If BTC breaks above these levels, a stronger upward movement is anticipated.

Expectation: The green projected path suggests a short pullback before a sharp rally towards the resistance of 72,060, indicating potential bullish momentum.

Long-Term (1-Week Chart):

Support and Resistance: The long-term view confirms similar levels, with 66,099 as a crucial resistance and 56,220 as strong support. BTC has bounced back from these levels several times historically.

Outcome: The long-term chart shows a bullish recovery, especially if Bitcoin can break and hold above the 66,099 level, paving the way toward 72,060 and possibly higher.