The cryptocurrency market has seen a quick recovery, with most coins returning to the green zone. Bitcoin (BTC) has experienced significant gains, rising by 5.93%. On the hourly chart, BTC has set a local resistance level at $63,363, and if the daily bar closes far from it, a correction to the $62,000 range is expected. On a larger time frame, the closure of the candle near the $63,236 mark or above could trigger a breakout and further upward movement to $65,000. In terms of the midterm outlook, neither bulls nor bears are dominating as BTC is far from important levels. However, if the weekly bar closes near its peak, there may be a test of the $70,000 area soon. At the time of writing, Bitcoin is trading at $62,923.



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