BTC Nears Critical Resistance in Ascending Triangle Formation

Current Scenario:
Bitcoin (BTC) is approaching a critical level as it forms an ascending triangle on the 4-hour chart. The price is moving towards a strong resistance zone between 61.5K and 62.5K, following a clear upward trendline. This pattern often signals a potential continuation of the bullish trend, but BTC is now at a key decision point.

Bullish Scenario:
If BTC can break through the strong resistance with significant volume, we could see a strong upside move. This breakout could lead to new highs, with the previous resistance zone likely becoming strong support after a brief retracement. Volume will be a crucial factor to confirm the breakout.

Bearish Scenario:
However, if BTC gets rejected at this resistance level, it could lead to a downside move. A rejection might cause BTC to break below the upward trendline, leading to further declines. This would indicate a shift in market sentiment, potentially pushing BTC to lower support levels.

Key Levels to Watch:
Strong Resistance: 61.5K to 62.5K
BTC's reaction at this level will be pivotal for determining its short-term direction.

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