Bitcoin (BTC) regained momentum over the past week, breaking free from $49,000 lows and surging over 8% to reach $65,000 on Sunday. Analysts are optimistic about BTC moving towards $68,000 soon.
Crypto analyst Doctor Profit sees two potential paths for Bitcoin: maintaining its position above $63,900 for a quick rise to $68,000 or a dip to $61,900 followed by a rise towards $68,000. The latter scenario has a 65% probability.
Technical analyst Ali Martinez supports the possibility of a short-term pullback below $63,500 to $62,800. The Open Interest Heatmap from Hyblock suggests a potential correction as current open interest is at $61,000.
A successful retest of lower support levels could pave the way for higher resistance levels, provided demand remains consistent. Bitcoin is trading at $63,450 at the time of writing, down 1% in the last 24 hours after reaching $65,000 on Sunday.
