Bitcoin has experienced a bounce from a critical support area, which suggests the possibility of a short-term recovery. The rebound aligns with oversold signals in the market, which might indicate a change in momentum.
Despite this optimistic signal, analyst Josh from Crypto World highlights that Bitcoin still forms lower highs and lower lows. This pattern suggests that Bitcoin remains in a broader bearish trend.
The forecast predicts that Bitcoin might undergo a rally, potentially reaching the next stop at $68,000. This prediction comes as analysts continue to monitor market trends and indicators closely.
