🚨🛑Urgent BTC Update 🛑🚨
This weekend, as is often the case, we’re unlikely to witness any significant movements in BTC. The CME closed on Friday at 59.6K, setting the stage for a likely open around this level when the new week begins.
🔍 On the CME chart, there's a textbook descending channel that has formed, serving as a “bullish flag”—a classic continuation pattern signaling potential growth. The structure is clear, with the boundaries of the flag being tested. If BTC approaches the upper boundary soon, it would mark the third test of this level. Historically, a breakthrough is less common on the third test compared to the fourth, making it a key area to watch closely.
For those considering short positions, it’s crucial to wait for confirmation of a rebound before taking action. Right now, the focus should be on observing BTC’s movement within this flag pattern.
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