#BITCOIN 1DAY UPDATE !!Hello friends, welcome to this BITCOIN update from Crypto Sanders.
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On the daily timeframe, the price has remained confined within a significant descending channel pattern for the past two months, with no clear breakout in either direction. However, following a recent false breakout from the lower boundary, the market appears to be regaining momentum for a potential recovery and continuation upwards.
The Relative Strength Index (RSI) has been steadily increasing and is now approaching the 50% threshold, indicating a shift towards bullish momentum. The midline of the descending channel now emerges as a critical resistance level, impeding the market from resuming its rally.
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