Bitcoin's recent surge above $60,000 has sparked a wave of optimism in the crypto market. However, our technical analysis suggests that this rally is likely a mere correction before the next major drop. We're tracking a potential reversal pattern on the daily chart, with a potential bearish engulfing candle forming. Keep an eye on this development, as it could signal a significant shift in market momentum.

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Interesting analysis! I've been tracking the same pattern on the hourly chart, and it's concerning to see the RSI approaching overbought territory. A reversal could be imminent, but I'm curious to see how the market reacts to the next resistance level around $62,000.