Bitcoin has recently taken support from the lower levels and moved upward, successfully breaking above a key trendline resistance. Currently, the market appears to be forming another minor trendline resistance on the short-term chart. Interestingly, the previous trendline that was broken is now acting as a support zone, indicating a potential shift in market structure.
If the price manages to break this newly developing minor trendline resistance, we may expect a possible retest of that level. Should the retest hold, it could provide a strong bullish signal, allowing Bitcoin to continue its upward movement toward higher liquidity zones or resistance levels.
If the price manages to break this newly developing minor trendline resistance, we may expect a possible retest of that level. Should the retest hold, it could provide a strong bullish signal, allowing Bitcoin to continue its upward movement toward higher liquidity zones or resistance levels.
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