Will Bitcoin hit $63,000?After forming a new 52-week high of $53,019, BTC price action was slow and retraced on the daily chart. As sellers demand a retest of the $50,000 breakout, the possibility of a sharp decline under this milestone arises.On the daily chart, high momentum in the current uptrend shows a round bottom breakout. Furthermore, the recent pullback followed a range breakdown.With three consecutive bearish candles, the rise in volume threatens to fall sharply. Nonetheless, trend-based Fibonacci levels provide a rebound cushion at $49,643, consistent with the 50% level.Currently, the price of BTC is at $50,947, up 0.40% intraday, showing a white candlestick.Despite the short-term pullback, the current intensive uptrend continues to shine, providing an opportunity to buy on dips. As buyers maintain dominance at the $49,643 mark, a rebound rally could lead to a fresh bull run.In this scenario, BTC price could hit a new 52-week high well above the $55,000 mark. Follow me and gather together to exchange passwords!
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