Bitcoin Weekly Forecast: BTC likely to provide another buying opportunity

Bitcoin price shows signs of correction on the 4four-hour chart. Investors should pay attention to the $63,000 level for buying the dips opportunity. On-chain data shows the higher timeframe outlook remains bullish. A weekly candlestick close below the $60,000 level will invalidate the bullish outlook. Bitcoin price looks weak on the lower timeframes, which might provide opportunities to accumulate.

In such a case, Bitcoin's price could see a steeper correction that knocks BTC inside the weekly and monthly imbalance, stretching from $53,120 to $59,111. The May 1 crash failed to retest the aforementioned imbalance’s midpoint at $56,189. So, patient and long-term investors should consider leaving bids at this level. BTC/USDT 1-day chart The upside target for Bitcoin price, from a conservative standpoint, remains the same – the $80,000 psychological level.

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