BTC has been broken out of its downtrend resistance as buyer pressure steps in at around $54k. However BTC is facing rejection from its previous ascending wedge support turns resistance at around $56k. If BTC manage to pass through $56k resistance, we will see BTC to test the ascending wedge resistance at $59k. If not, we are looking at a further pullback.
Trade closed: target reached
BTC has broke through its downtrend support turns resistance as expected.
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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.