Bitcoin (BTCUSD) is now knocking on the door of its $62,500–$71,000 trading range, and the charts are starting to hum with breakout potential. The spark behind the latest hike? A clean double bottom reversal that formed at the $62,500 support. This pattern, defined by two successive touches of the same floor, carries extra weight here because both rebounds were fueled by rising volume—a clear sign that buyers weren't just lucky, they were committed. In technical analysis, this is often the prelude to a trend shift and a move above range resistance.
In fact, the broader momentum picture adds fuel to the fire:
1) The 50-day exponential moving average (EMA50) has finally flipped. For the first time in months, the main crypto not only pierced this dynamic resistance, which had long capped rallies and reinforced the bearish narrative, but also closed decisively above it for multiple consecutive sessions.
2) The Relative Strength Index (RSI) is breaking free. After dipping into oversold territory, the indicator has snapped its downtrend and is now grinding higher toward 65, thus reflecting building upside momentum.
3) The MACD has turned positive. The Moving Average Convergence/Divergence has crossed above its signal line from below and is now firmly planted in bullish territory, offering another vote of confidence for the uptrend.
Put it all together, and the message is hard to ignore: Bitcoin has its sights set on $71,000, i.e., the upper limit of the range. The token definitely has momentum on its side. A clean break above that level would clear the runway for the next big milestone—$81,500.
The bottom-line recommendation is to buy BTCUSD at the current price. The target is $81,500 over a two-week horizon. In order to effectively manage potential risks, place a Stop Loss order at $65,000.
This content is for informational purposes only and is not intended to be investing advice.
