Bitcoin price briefly broke below descending channel on daily chart but quickly rebounded, indicating fake bearish breakout. $60K level turned support, targeting $68K resistance short term. On 4-hour chart, price recovered, eyeing midline of channel as next target, RSI near overbought zone suggests possible pullback. Miners Position Index shows declining selling pressure, good sign for potential rally towards $80K. Despite bullish indicators, market volatility warrants caution for investors.

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