harmonicpatterns Ideas

BTCUSD faced a downtrend line rejection at $62,129.08 on the 1-hour chart. If the rejection is sustained, there is a possibility of a decline to $60,953.21. A break below $60,953.21 may result in a further drop to $59,457.43. Alternatively, if the rejection does not hold, there is a potential upward movement towards $63,054.22. A successful break above $63,054.22 could lead to an increase to $63,780.49.

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Traders should take note that today, the price of Bitcoin is approaching a crucial turning point as it nears a support trendline. Currently, there is a bullish pressure with the price at 60,195. The turning level to watch is at 60,195 - if the price drops below this point, it may reach a support level; however, maintaining stability above this level indicates an active bullish trend. In terms of resistance levels, if the price remains above the turning point at 60,195, it could climb to 62,677 and 64,089, with further potential to reach 66,529 upon sustainment. On the other hand,...