Bitcoin has been experiencing a significant upward trend for a few days now. Traders see the declines as a chance to buy during an upward trend, which is what occurred recently. The buyers eagerly bought the dip to $59,200, showing strong interest at lower price points. Buyers are attempting to continue the upward trend by pushing the price above $69,000. If their efforts pay off, the BTC/USDT pair may initiate the next phase of the upward trend towards $70,000 and then $75,000.
The bears are running out of time. They need to protect the $69,500 level and push the price below $60,000 to initiate a correction in the short term. The duo could then experience a significant sell-off and drop to the $52,000 level.