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BTC

Bitcoin Price Faces Critical Resistance, Potential Breakout or Correction

BTC faced rejection at the horizontal resistance and is now trading slightly above the channel boundary. For a bullish continuation to be confirmed, BTC needs a successful retest and breakout of the supply zone. Conversely, if a candle closes back inside the channel, it could indicate a short-term correction, but the overall upward trend might still continue afterward.
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AI Analysis

Bitcoin (BTC) has recently experienced rejection at a horizontal resistance level, which commonly indicates a significant barrier for upward movement. Trading just above the channel suggests that the ...

AI Recommendation

Traders should wait for a clear signal of either a strong breakout above the supply zone or a close back inside the channel. Entering a position after confirmation will reduce risk and improve chances...

Disclaimer

The AI analysis and recommendations provided are for informational purposes only. Any investment decisions should be made at your own risk. Past performance is not indicative of future results. Always conduct your own research and consider consulting with a financial advisor before making any investment decisions.

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