Bitcoin is currently consolidating within an ascending channel pattern. It has recently faced rejection from the resistance trendline of the channel and is now trading below the 21MA.
Meanwhile, the 50MA is providing support just above the channel’s support trendline. A decisive breakout or breakdown from this channel will be key in determining Bitcoin’s next major move. Keep a close watch for confirmation.
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#BTC #BTC/USDT ANALYSIS
Bitcoin is currently consolidating within an ascending channel pattern. It has recently faced rejection from the resistance trendline of the channel and is now trading below the 21MA.
Meanwhile, the 50MA is providing support just above the channel’s support trendline. A decisive breakout or breakdown from this channel will be key in determining Bitcoin’s next major move. Keep a close watch for confirmation.