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Bitcoin presents a significant Cup and Handle pattern, previously discussed in a livestream. The breakout beyond the Neckline marks completion of the Handle, now serving as immediate support and demand.
Our observations denote two potential Bitcoin movements, A and B:
Scenario A: Sustained support at the Handle's target zone may prompt an upward rally. Immediate resistance stands at 48k-50k.
Scenario B: Rejection from the 48k-50k resistance might initiate a correction towards the Neckline, a critical support zone around 31k.
Both scenarios remain possible, and ongoing updates will track market developments.
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Thank you for your attention.