HelenP. I Bitcoin will rise to trend line and then drop

Hi folks today I'm prepared for you Bitcoin analytics. If we look at the Bitcoin chart, a significant structural change has recently taken place, with the price decisively breaking below the major ascending trend line that had defined the long-term uptrend. This breakdown is a strong signal that the market character has shifted from bullish to bearish, with sellers now in control. The price is currently consolidating below this broken structure, and I believe the former support levels, including the trend line and the horizontal resistance zone at 119000 - 119800, will now act as a formidable confluence of resistance. My analysis for a short position is based on the classic break-and-retest principle. I expect the price can rise to the trend line and then drop. A strong and clear rejection from this area would serve as the primary confirmation that the breakdown is valid and that the path of least resistance is now to the downside. Therefore, I have set the goal for this developing downward move at the 115000 level. If you like my analytics you may support me with your like/comment ❤️

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FirstNameHelen

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FirstNameHelen

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