BTC/USDT 1DAY CHART UPDATE !!
The white lines on the chart appear to indicate resistance levels, connecting the recent highs over the past months. The price has struggled to break above these lines multiple times.
The yellow circles mark significant points where the price approached or tested the upper resistance, but failed to sustain a breakout. These points often signal rejection from resistance levels.
The price movement seems to form a descending triangle (a bearish continuation pattern), with a downsloping resistance line and a relatively flat support level, represented by the green trendline at the bottom.
The latest candle shows a price of around $65,319, and it is testing the resistance line again. This could lead to a breakout if the resistance is overcome or another rejection if the pattern holds.
Would you like more insights on potential scenarios or further technical analysis?
Disclaimer: This analysis is for informational purposes and not financial advice. Always stay updated with market movements and adjust your trading strategies as needed.
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