BTC Update:
BTC just closed above a key resistance level on the weekly chart, and this week’s candle is showing a retest. We’re seeing a classic pattern here called Breakout, Retest, & Rebound (BRR).
Last week was the ‘Breakout,’ this week we’re in the ‘Retest’ phase, and if all goes well, we might see a ‘Rebound’ next week. This could push BTC to its all-time high of $73.7k, or maybe even beyond.
The main risk right now would be if BTC drops below the parallel channel on the weekly chart. For the rebound to happen, it’s important for BTC to stay above the $66k support level.
Thanks for reading! Remember to do your own research and analysis before making any decisions.
Trade safe!
