Bitcoin is currently quite bullish, and you can see that it has moved from $66K to $71K, which is only $3000 away from its all time high.

In one of my video posts, I mentioned how Bitcoin has two scenarios. If it stays above the resistance line over $66K for two to three days, it will reach an all-time high.

In the other event, if Bitcoin does not remain above that level, the price will undoubtedly fall to between 62 and 63K.

Furthermore, there was a war tension between Iran and Israel, and I warned that if Bitcoin continues to trade below that resistance line, it would see a significant decline that will not be favorable to the investors.

Fortunately, Bitcoin maintains its position above the resistance level for over three or four days. Finally, we see a strong pump in the price of Bitcoin, which today reaches $71K.

Four bullish candles that have altered the market's trend line are seen on a one-day time frame.

However, there is still some concern that Iran would strike back against Israel, and if it is harder this time, the cost will be tested once more which is once again not in favor of the market and will surely test the support of $66K.

The market shift could also be due to the upcoming election in the United States, which causes volatility in the market.

Those who have already invested should not be concerned about their investments and should maintain their assets closely held; however, for those who want to enter the market at this time, I would not encourage investing or trading because the market is more volatile.

It can move unexpectedly to either side. I will not encourage taking trades, especially for those who play leverage margin, because exiting your position can result in a significant loss.

There are two scenarios that could occur following the 2024 election results in the United States.

One is that if Donald Trump wins, it will benefit the crypto market, and we may see another bullish phase, this time reaching the level of $100K.

On the other side, if Kamala Harris wins the election, she is less favorable to the crypto market, and the price may fall to $60,000 in the first phase.

You may see that there will be a significant pump or dump of more than 20% following the election. As a result, investing at this time is extremely dangerous.

The all-time high is around $74K, and based on this current movement, I believe Bitcoin will test this level before heading down.

Following that, we will see a correction towards 69K. Now I'm going to say that 69K will be another support level for this week.

I'll show you all of these trend lines and market moves in the diagram so you can guess what your position will be and how far your trade needs to execute.

I also mentioned that there is a fair value gap at 64,500, but Bitcoin did not reach this level, leaving another fair value gap at 69,000 to 69,500, thus this level will most likely be tested and rebounced from this level.

According to my forecast, the range for this week will be 67000 to 74000, and the Bitcoin market will remain within this range.

I hope all of this knowledge, data, and statistics are useful to you. Thank you for reading all the way to the end.

I hope you find this post interesting and I hope you will like it. If you like the post, please leave feedback in the comments section so that the next one will be even better. Thank you for sticking with me until the end.

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REMEMBER: We should prepare for the unexpected and hope for the best. Life may not be easy, but you must do your best and leave the rest to God.

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