#BTC/USDT ANALYSIS
Following a successful breakout and subsequent retest of the symmetrical triangle pattern, the crypto market has entered a robust bullish rally. This rally is encountering horizontal resistance, a critical level that could influence short-term price movements.
The 50-day moving average is also trending upwards, signifying ongoing bullish momentum and acting as a dynamic support level.
If the bitcoin decisively breaks above this horizontal resistance, it would further validate the prevailing bullish sentiment, potentially leading to continued upward momentum and new highs in the crypto market.
Following a successful breakout and subsequent retest of the symmetrical triangle pattern, the crypto market has entered a robust bullish rally. This rally is encountering horizontal resistance, a critical level that could influence short-term price movements.
The 50-day moving average is also trending upwards, signifying ongoing bullish momentum and acting as a dynamic support level.
If the bitcoin decisively breaks above this horizontal resistance, it would further validate the prevailing bullish sentiment, potentially leading to continued upward momentum and new highs in the crypto market.
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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.
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.