BTC Hits the Last Major Resistance
Bitcoin is facing a decisive test at the long-term ascending trend line. This line, connecting previous major highs, represents the last significant technical resistance on its current path.
Breakout Potential: A successful breach above the red line, confirmed by strong volume, would signal robust bullish momentum and potentially clear the way for further substantial gains. Notably, there are no significant technical resistance levels remaining beyond this point.
Retracement Risk: Conversely, if Bitcoin struggles to overcome this resistance and faces selling pressure, a retracement or period of consolidation is likely.
While the psychological $100,000 milestone looms large, there are currently no technical indicators suggesting an imminent reversal if this trend line is decisively broken.
Breakout Potential: A successful breach above the red line, confirmed by strong volume, would signal robust bullish momentum and potentially clear the way for further substantial gains. Notably, there are no significant technical resistance levels remaining beyond this point.
Retracement Risk: Conversely, if Bitcoin struggles to overcome this resistance and faces selling pressure, a retracement or period of consolidation is likely.
While the psychological $100,000 milestone looms large, there are currently no technical indicators suggesting an imminent reversal if this trend line is decisively broken.
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