Bitcoin has experienced a bullish recovery following a sell-off that occurred below the highlighted support level. On the hourly timeframe, an ABC pattern has emerged, accompanied by a bullish breakout on the trendline. As a result, there is an expectation for the bullish trend to continue towards the recent highs at $27,250 and $28,100. However, it is worth noting that the major daily trend is acting as a resistance, and it is necessary to confirm a bullish breakout on this trendline in order to anticipate a move towards the target of $28,100.
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Disclaimer
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.