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Traders should take note of the recent bearish breakout from the $72,000 resistance level, following a failed attempt to surpass the local $74,000 resistance. The selling pressure around $68,385 on the H1 timeframe is significant, indicating a potential decline towards $56,000 if the current trend persists without breaking the channel resistance. Despite this short-term bearish outlook, the long-term perspective remains positive, with the price holding above the stable channel support line.
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Trade in progress
