#Bitcoin Daily Update:
Bitcoin closed the day at $42,100, showing promise in its current trajectory. The price successfully breached the resistance trendline, and there are expectations for a test of the $44,000 resistance level.
Several influencers and traders, including myself, previously speculated on the possibility of Bitcoin retracing towards the $30,000 range. However, it's worth noting the significance of the 100EMA in the daily timeframe, which, if I'm not mistaken, played out effectively.
Looking ahead, predicting Bitcoin's next moves remains uncertain. All we can do is analyze and evaluate probabilities. At this juncture of $42,000, it is anticipated that Bitcoin will challenge the $44,000 resistance. A successful break higher could lead to the next targets at $47,000-$50,000. It's crucial to keep an eye on the 100EMA as an invalidation point.
Additionally, it's noteworthy to emphasize the importance of the weekly close being in the green, as it holds significance for the overall market outlook. Stay tuned for further developments.
#DYOR