BITCOIN FAKE BREAKOUT ON SUPPORT, WHAT'S NEXT?🚀
Bitcoin recently experienced a false breakout below a key support level within the daily timeframe. This event hinted at a potential reversal, marked by a robust recovery from the previous sell-off, rebounding to the $57k-56k range. Re-entering the demand zone signaled a bullish sentiment, and yet another rejection occurred at the major trend line.
The anticipation of a bullish rally hinges on a breakout above this trend line. Until then, expectations of a significant upward movement remain uncertain. However, if such a breakout materializes, the next significant resistance level is anticipated around $71k.
Conversely, should Bitcoin falter once more within the demand zone and undergo a bearish breakout, the bullish outlook would be nullified.
The anticipation of a bullish rally hinges on a breakout above this trend line. Until then, expectations of a significant upward movement remain uncertain. However, if such a breakout materializes, the next significant resistance level is anticipated around $71k.
Conversely, should Bitcoin falter once more within the demand zone and undergo a bearish breakout, the bullish outlook would be nullified.
