Bitcoin has broken below its 50-day moving average, signaling weakening bullish momentum in the short term. At the same time, the emergence of a classic Double Top pattern near a key resistance zone has intensified selling pressure, raising the likelihood of further downside. If upcoming support levels fail to hold, Bitcoin could enter a deeper corrective phase and potentially face a prolonged consolidation period.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.