On the 30-minute BTCUSD chart, we can see a break of structure followed by a return to the consolidation zone. The price is currently testing the previous support, which is now acting as resistance. A potential fake breakout to the upside could occur, followed by a drop into the marked demand zone, where a possible reversal and continuation of the uptrend may take place.
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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.