BTCUSDT is currently trading around the $43,333 mark and is embarking on a short to medium-term upward trajectory.
As a result, BTCUSDT has completely broken out of the parallel downtrend channel as the bullish side successfully countered the downward pressure near the psychological level of $40,000.
Currently, BTCUSDT is showing slight signs of retracement, but the technical outlook still leans towards an upward trend as it has successfully breached two resistance levels at $41,700 and $43,100, thereby establishing them as new support levels for the recovery journey.
As a result, BTCUSDT has completely broken out of the parallel downtrend channel as the bullish side successfully countered the downward pressure near the psychological level of $40,000.
Currently, BTCUSDT is showing slight signs of retracement, but the technical outlook still leans towards an upward trend as it has successfully breached two resistance levels at $41,700 and $43,100, thereby establishing them as new support levels for the recovery journey.
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