Bitcoin is trading around $71,186, above the 200-day EMA and the 21-day SMA, within an uptrend channel that has been forming since early February and within a secondary uptrend channel formed since March 27. The outlook remains positive for Bitcoin, but it may face difficulties in continuing its upward movement as signs of momentum exhaustion are observed.

Given that Bitcoin reached a resistance zone around $73,000—a level that also coincided with February's high— this zone acts as strong resistance, and Bitcoin is likely to continue a technical correction in the coming hours until it reaches the 200 EMA around $69,300. It could even reach the 3/8 Murray level around $68,750 and potentially reach the lower band of the main uptrend channel around $67,300.

If Bitcoin finds solid support around the 200 EMA or around $68,750, this zone could be seen as an opportunity to open long positions, with targets at $71,200, $73,000, and finally at the 4/8 Murray level around $75,000.

The Eagle indicator is showing a negative signal, and overbought levels are observed. Should BTC continue to rise, the $73,000 resistance zone could be a good level to sell.

Our trading plan for the coming hours is to buy Bitcoin above $71,000, with targets at $72,550 and $73,200. The Eagle indicator is in positive territory, although we should be cautious about buying above $73,500, as a technical correction could occur.