🚨 BTC MARKET UPDATE 🚨
Bitcoin (BTC) has recently re-entered its previous trading channel and tested the $58,000 support level. It appears the recent symmetrical triangle breakout might have been a false signal, with BTC dropping below the $61,700 mark and finding support again at $58,000.
As outlined, the channel currently has a support level at $58,000 and a resistance level at $65,000. In the short term, $61,700 is also proving to be a key resistance point. For BTC to show bullish momentum, it needs to break through this resistance. Until then, a potential rally towards $61,700 is on the cards, provided the market remains stable.
Keep an eye on market news and sentiment, as any negative developments could impact BTC’s ability to hold the $58,000 support level.
