Hello Traders! Here’s a quick update on Bitcoin’s price action:
Bitcoin broke out of its descending trendline last Wednesday, also confirmed by the RSI.
A head and shoulders pattern has formed, indicating a potential trend reversal.
Bitcoin faces strong resistance at $67,000. Breaking this level could signal a continued bullish trend. The key support is the ascending trendline in blue.
Breaking and sustaining above $67,000 could lead to a stronger bullish trend. Otherwise, expect fluctuations within the current range.
Bitcoin broke out of its descending trendline last Wednesday, also confirmed by the RSI.
A head and shoulders pattern has formed, indicating a potential trend reversal.
Bitcoin faces strong resistance at $67,000. Breaking this level could signal a continued bullish trend. The key support is the ascending trendline in blue.
Breaking and sustaining above $67,000 could lead to a stronger bullish trend. Otherwise, expect fluctuations within the current range.
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