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• Bitcoin kicked off the week with a bullish tone, hinting at potential upside momentum.
• A breakout from the symmetrical triangle pattern might ignite fresh bullish sentiment.
• However, a potential buying opportunity might present itself in the form of a test of the symmetrical triangle's lower range following the release of US CPI data.
As discussed in previous analysis, Bitcoin's price had been fluctuating for almost a month, forming a symmetrical triangle pattern. During this period, the cryptocurrency bulls stepped in when needed as it dipped below $65,000 last week, thus maintaining the longer-term bullish pattern.
Despite a brief drop on Friday due to employment data, the world's largest cryptocurrency quickly rebounded after testing the triangle's lower boundary and remained in demand over the weekend.
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