$BTC is breaking out from it's two year long downtrend! | Trader_Rakib on Binance Square

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Bullish

$BTC is breaking out from it's two year long downtrend!

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$BTC BEAR MARKET IS DONE! BULL MARKET IS NEXT! 🚀

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$BTC ANALYSIS BTC has broken out of the symmetrical triangle pattern with a noticeable increase in trading volume on a 2-day timeframe. The MACD indicator has registered a bullish crossover, indicating a spike in positive momentum. The Ichimoku cloud is displaying a bullish trend. As long as BTC remains above the boundaries of the triangle, a continuation of the ongoing bullish rally is anticipated.

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$BTC ANALYSIS BTC continued it's bullish move after the breakout of the ascending triangle. Currently, it is facing the strong horizontal resistance. A solid breakout above it would be the bullish confirmation, while in case of a rejection, it might took some correction.

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$BTC ANALYSIS BTC experienced a significant increase in trading volume following the breakout from the ascending triangle pattern. Presently, it is encountering resistance at its previous high. A strong breakout above this level would serve as confirmation for the continuation of the bullish momentum. Should it face rejection at the horizontal resistance, the next likely scenario is a test of the horizontal support.

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$BTC ANALYSIS $BTC is currently forming an ascending triangle pattern on a 4-hour timeframe. It is currently attempting to break out of this pattern. A strong breakout from the triangle would confirm a bullish trend, while a rejection would likely lead to further consolidation within the ascending triangle.

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