Val Me, an analyst, recently presented a visual representation illustrating a large green engulfing candle on the four-hour timeframe for Bitcoin. In their analysis, they emphasized the importance of the $65,000 level, particularly after studying the area beyond $60,000.
Lark Davis, a prominent figure in the crypto world, utilized exponential moving averages on the daily chart to provide insights. According to Davis, Bitcoin is currently encountering resistance at the 100-day EMA level, which stands at $59,972. Moving forward, the 50-day EMA, currently valued at $63,902, presents the next significant barrier. Davis expressed the preference for this resistance to be overcome rather than experiencing a strong rejection.
