Today’s Bitcoin (BTC) market activity shows the price maintaining a firm position around $67,087.39, with a minor daily increase of 0.93%. This stabilization above the $67,000 level signifies a bullish sentiment, as Bitcoin recently touched a high of over $67,400—the highest in the last month. After a challenging start to May, where it dipped below $57,000, Bitcoin’s resilience is evident as it regains and sustains a higher price bracket.

Bitcoin is presently challenging a crucial resistance level at approximately $67,250. Overcoming this barrier could potentially lead the price toward higher resistances at $71,500 and then $73,700. Conversely, Bitcoin’s support levels are set around $65,250 and $64,500, with a significant support at $61,500. These figures represent pivotal zones where Bitcoin has historically either rebounded or met with considerable sell-offs, playing a significant role in defining its short-term trajectory.

BTC Volume Trends and External Market Factors

Despite a 19.38% drop in trading volume over the past day, Bitcoin’s market capitalization has seen a slight uplift of 0.93%. This divergence suggests that while trading activity may have lessened, the valuation sentiment in the market leans positive. 

Moreover, today’s expiration of $2.1 billion in Bitcoin and Ethereum options could introduce additional volatility. This scenario presents a critical juncture for Bitcoin’s price direction, as market participants adjust their strategies in response to these expirations.

The 4-hour chart for Bitcoin (BTC/USD) presents a bullish scenario as the cryptocurrency consistently hovers above the crucial $66,940.2 mark. Recently, BTC has been testing the upper boundary of the Keltner Channel, which suggests a strong upward momentum.

The 4-hour timeframe chart indicates a significant increase in price from earlier lows around $62,000, with recent movements pushing towards a high of $67,210. The price currently sits comfortably above the middle line of the Keltner Channel, providing a support level at approximately $65,880.

BTC Key Technical Indicators and Price Movements

The Relative Strength Index (RSI) on the 4-hour chart is at 68.66, approaching the overbought territory but still indicating strong buying interest in the market. This level of the RSI suggests that while there is bullish momentum, traders should be cautious of potential reversals as the market might soon reach overbought conditions. 

Additionally, the Moving Average Convergence Divergence (MACD) shows a bullish crossover, with the MACD line (blue) trending above the signal line (orange), reinforcing the current bullish trend.

As Bitcoin continues to test the $67,210 resistance, a decisive break above this level could pave the way for further gains towards the next resistance near $68,000. Conversely, should Bitcoin fail to sustain its upward trajectory and fall below the current support at $65,880, the next levels to watch would be the lower boundaries of the Keltner Channel around $64,502. This level could act as a crucial juncture for BTC, as a break below might lead to increased selling pressure and a potential retest of lower support zones.