BTC breaks through falling channel, long-term increase?
Hello dear traders!
BTCUSD is emerging as a focal point for investors seeking growth opportunities and capital preservation. Currently, BTC is trading at $28,079. It can be seen that this currency pair is recovering after breaking free from the psychological barrier with a downward channel pattern. It has made a breakthrough at $27,734.
The current environment is supportive of BTC's upward prospects, and my price target is $29,250, breaking through the strong resistance level at $28,585.
BTCUSD is emerging as a focal point for investors seeking growth opportunities and capital preservation. Currently, BTC is trading at $28,079. It can be seen that this currency pair is recovering after breaking free from the psychological barrier with a downward channel pattern. It has made a breakthrough at $27,734.
The current environment is supportive of BTC's upward prospects, and my price target is $29,250, breaking through the strong resistance level at $28,585.
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Additionally, IntoTheBlock metrics evaluate the average price at which these tokens were purchased and compare it to current prices showing that 67% of holders are currently in profit. The In The Money indicator shows that 10% of holders are at breakeven and 22% of holders are currently at a loss.
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The market has also received a boost from the US Securities and Exchange Commission's (SEC) decision to miss a deadline to challenge Grayscale's application to convert the Bitcoin Trust into an exchange-traded fund. (ETF).
Trade active
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achieve target
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Trade closed: target reached
