Bitcoin had broken a previous Support Level at: "£53K" which acted as a Resistance area back from April, 4th. As as result, this created an uptrend.
£55.6K is now acting as a strong Resistance zone from the current dump that we've just experienced. BTC bulls have managed to push the price above £54.2K, which was a key level on multiple time intervals. For this instance, the 4-hour candles closed above this level, retest to £55.6K will happen very soon.
If bulls can break this level, which wouldn't be surprising before the halving, momentum will push further past "£56.6K" with no difficulty!
Line of Support= £54.2K🟢
Line of Resistance= £55.6K🔴
Target= £56.6K🎯
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(CRYPTOCURRENCY CAN BE HIGH-RISK INVESTMENTS DUE TO THE VOLATILLITY OF IT'S NATURE, AND YOU SHOULD NOT EXPECT TO BE PROTECTED IF SOMETHING GOES IN THE WRONG DIRECTION.)