Bitcoin is currently in a short-term bullish trend. However, it is approaching a critical area of resistance as it becomes overbought on shorter timeframes.
According to analyst Josh of Crypto World, the Super Trend indicator remains red. Despite some bullish action in the short term, Bitcoin's price is still following a larger bearish trend.
Analysts believe that Bitcoin could eventually reach $68K, but there is likely to be a temporary pause before the next rally.
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