Bitcoin trading update

Hello,

Today, let look into an ascending broadening wedge (ABW) which is a bearish reversal pattern. It occurs during uptrends and is characterized by an upward sloping resistance line and a diverging trendline at the bottom, giving it a widening appearance.

If Bitcoin breaks above the immediate resistance zone and successfully retests it as support, we can look for buy opportunities with targets set at the major resistance zone. Protective stops should be placed just below the new support. Although, If in a case where price gets rejected from the immediate resistance zone, shorting opportunities can arise, targeting the important support. If this support is broken, the target can be set even lower, depending on the bearish momentum and other market factors. Stops should be placed just above the resistance zones.

Important Levels to watch:
Major Resistance Zon
Immediate Resistance Zone
Important Support

It's essential always to use risk management tools and never invest more than you're willing to lose. Keep a close eye on global events, Bitcoin-related news, and other factors that can influence the price.

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