Bitcoin Near Resistance Zone

TheNewsCrypto Updated   
BINANCE:BTCUSDT   Bitcoin / TetherUS
Bitcoin Multi Pattern Breakout Analysis

Currently, BTCUSDT is at $24833

Bitcoin ( BTC ) . In an hourly time frame Bitcoin was observed in an Rounding Pattern Structure . It seems bitcoin has created a strong base structure for bull move.

Rounding Bottom : A rounding bottom, a chart pattern used in technical analysis and identified by a series of price movements that graphically form the shape of a “U”. Rounding bottoms, found at the end of extended downward trends and signify a reversal in long-term price movements.

More so, a rounding bottom chart can be divided into several main areas. First, the prior trend shows the buildup to the stock’s initial descent toward its low. The rounding bottom breaks out of its low point when the stock price closes above the price immediately prior to the start of the initial decline

We can observe fake break movement towards the decline and then the BTC price picked up quickly. . This shows that the institution is committed to improving the liquidity of the assets.

Closing Above $25,000 is route for $27,000 to $28,000.

Happy Trading!!!!!


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