- Expanding Wedge Pattern: Bitcoin is currently trading within an expanding wedge pattern, with the price fluctuating between $60,190 and $53,639. This pattern indicates a market in consolidation, with a tug-of-war between buyers and sellers.
- Price Scenarios: In the near term, it is highly likely that Bitcoin will continue to trade sideways within this range. However, if the price breaks out beyond this range, it will determine the next significant trend. Specifically, if Bitcoin breaks above $60,190, it would signal the formation of a bullish trend. Conversely, a breakdown below $53,639 could lead to a further decline.
- Price Scenarios: In the near term, it is highly likely that Bitcoin will continue to trade sideways within this range. However, if the price breaks out beyond this range, it will determine the next significant trend. Specifically, if Bitcoin breaks above $60,190, it would signal the formation of a bullish trend. Conversely, a breakdown below $53,639 could lead to a further decline.
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