Bitcoin Eyes $74,000: ETF Inflows Fuel Short-Term Bullish Trend


Key Points:


- Bitcoin nearing key resistance level at $68,000
- Positive ETF inflows ($500M on Friday) contribute to price rise
- Short-term trend bullish, but overbought RSI signals potential consolidation or pullback


Analyst Insights:


- Break above $68,000 could lead to longer-term bullish trend and new highs ($73,000-$74,000)
- Failure to break resistance may continue broader bearish trend
- RSI in overbought territory, indicating limited room for upward movement


Near-Term Outlook:


- Sideways consolidation or slight pullback expected
- Temporary pause to allow RSI reset, paving way for further price increases
- Volatility to pick up again in the new week


Long-Term Perspective:


- Bitcoin's price doesn't move in straight lines; short-term consolidations expected
- Analyst remains bullish on short-term trend, anticipating further price growth.