#BTC: A BULLISH RETEST??

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Bitcoin is currently trading near the 61.6k level. Following a breakout from an ascending triangle, it's now retesting the triangle's resistance. The 200MA acts as additional support. A bounce from this retest is anticipated.

However, a failure to hold the retest level and a subsequent close back within the triangle would invalidate the bullish pattern. In this scenario, we could see a potential pullback towards the 56k-57k range.

Potential Targets:

Breakout: A successful breakout could lead to a rally towards 65K-68k.
Stronger Breakout: A more decisive breakout could target 70k-75k.

What are your thoughts on Bitcoin's current price action? Share your analysis in the comments!
Ascending TrianglebreakoutBTCBTCUSDTBullish PatternsChart PatternscorecryptoTechnical Indicatorsmoving_averageretestsupportTrend Analysis

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