đ $BTC Price Analysis - Pattern Breakout! đ
đ Weekly BTC/USDT Chart:
Weâre observing a textbook bullish breakout from a falling wedge pattern (marked by the blue lines).After an extended consolidation within this wedge, Bitcoin has finally broken out above resistance levels around $62,500.Notice how the price is retesting the $61,000 zone after the breakout, a crucial level to hold before a potential surge.
đ Key Levels to Watch:
âšSupport: $50,670 - A critical base that has held several times during the wedge formation.
âšResistance: $63,989 - Immediate resistance where Bitcoin needs to push through for bullish continuation.
âšTarget: $85,918 - Based on the wedge breakout and projected upward movement, this is the next major upside target to keep an eye on. đ
đĄ Whatâs Next?
The retest gives a good buying opportunity, often considered a safer entry than chasing breakouts.
If Bitcoin holds above $61,000 and breaks past $63,989, the bullish momentum could propel it towards the $85,000 region. đ
đ„ Stay vigilant and DYOR â as always, keep a close watch on market movements in the coming weeks to see if Bitcoin continues this bullish trajectory.
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