#BTCUSDT: QUICK UPDATE!!
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Welcome to this quick BTC update.
Bitcoin (BTC) is currently trading in a pattern resembling a falling wedge in the 6-hour timeframe. This pattern can indicate a potential breakout in either direction, so further confirmation is needed.
Here's what we're watching:
Breakout Confirmation: A clean break and close above the upper trendline of the wedge would be a bullish signal, potentially leading to a price increase towards the 66k-
67K zone.
Rejection: If the price fails to break out and falls back below the wedge, it could test the support level around 60k again.
Looking Ahead: The weekly candle close can offer additional insights into potential future price movements.
What are your thoughts on BTC's current price action? What are you watching in the altcoin market? Share your analysis in the comments below!
If you're enjoying this analysis, a thumbs up and follow would be greatly appreciated!
Welcome to this quick BTC update.
Bitcoin (BTC) is currently trading in a pattern resembling a falling wedge in the 6-hour timeframe. This pattern can indicate a potential breakout in either direction, so further confirmation is needed.
Here's what we're watching:
Breakout Confirmation: A clean break and close above the upper trendline of the wedge would be a bullish signal, potentially leading to a price increase towards the 66k-
67K zone.Rejection: If the price fails to break out and falls back below the wedge, it could test the support level around 60k again.
Looking Ahead: The weekly candle close can offer additional insights into potential future price movements.
What are your thoughts on BTC's current price action? What are you watching in the altcoin market? Share your analysis in the comments below!
Note
Breakout from falling wedge is done but currently facing resistance at the $63.4-64.5k level. We need a close above this resistance for further bullish movement. Rejection from here will again take us to the 60k level.
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