VIP MARKET UPDATE: $BTC
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Bitcoin faced a strong rejection at the horizontal resistance level, and is now gravitating toward horizontal support. This movement suggests a potential phase of sideways consolidation as the market searches for direction.
Traders are likely to witness price oscillations within this range until a decisive breakout or breakdown occurs. A successful retest of the breached level, either a breakout followed by resistance turning into support, or a breakdown with support flipping into resistance, will be key in confirming the next major trend.
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