Finally, BTC has broken above the 100 EMA on the daily timeframe. Currently, it’s aiming for the resistance trendline at $69K, and it will be interesting to see if BTC can rally as expected.
If you look closely, the RSI is showing signs of forming a hidden bearish divergence, where the price is below the previous swing high while the RSI is gaining momentum. If this plays out, be prepared for a significant impact.
The only way this pattern will be invalidated is if BTC closes above $64K on a daily and continues to rally.
I hope this update was helpful.
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