BitcoinLong
Bitcoin: Breakout and MA Crossover Signal Bullish Momentum
Bitcoin increased over 5% in 24 hours, triggering two bullish indicators:
Is BTC heading toward the $73,000 resistance?
- Descending Channel Breakout: BTC broke out of the channel, signaling a potential trend reversal. This breakout suggests that the previous downward trend might be ending, paving the way for upward movement.
- 200 MA Crossover: The price has crossed above the 200-day moving average, a key indicator of bullish momentum. This crossover often attracts more buyers, reinforcing the positive sentiment in the market.
Is BTC heading toward the $73,000 resistance?
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