BTC has been broken out of its downtrend resistance as buyer pressure steps in at around 54k. However BTC is facing rejection from its previous ascending wedge support turns resistance at around 56k. If BTC manage to pass through 56k resistance, we will see BTC to test the ascending wedge resistance at 59k. If not, we are looking at a further pullback.
Trade closed: target reached
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BTC has broke through its downtrend support turns resistance as expected.