BTC market structure and possible bullish scenarios
After making a new ATH, BTC has tested a resistance entity trendline. Upon breaking it and the local POC, an upside channel structure began to form, which is obediently respected by price. If the purple scenario plays out, we want to see an increased buying pressure that will break above previous ATH and confirm that level as support. If orange scenario plays out, we want to see price explode through the previous ATH level and bulls need to defend and close above it before breaking the top of the channel and confirming it as support. The most bullish possible outcome is if price manages to break through the top of the channel directly with insane momentum and volume, then finds support around the 68.4k level.
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