Bitcoin's Breakout from a Wedge Pattern: Heading Towards $66,000
2024-09-20

hello guys.

let's dive into btc analysis after the previous analysis:



 Broken wedge pattern:  The chart shows a clear breakout from a descending wedge, a bullish reversal signal, indicating a potential trend shift.

 Upward channel:  After the breakout, Bitcoin has been moving within an ascending channel, which provides a strong bullish structure for price movement.

 Support and resistance levels:  Immediate support can be found near $62,000, while the next target on the upside is projected around $66,000.

 Potential pullback:  A minor retracement within the channel might occur, but overall momentum remains bullish as long as Bitcoin stays within the channel.

 Bullish momentum:  With the strong volume and the breakout from the wedge, the next logical resistance area to test is around $66,000 or higher.

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