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Price and technical analysis:

Based on the Bitcoin (BTC-USD) chart provided: Price analysis: The current price of Bitcoin is around $63,347. We are seeing a breakout from a consolidation formation (falling wedge pattern), which suggests a possible continuation of the upward movement. The price is now testing a significant resistance level that has caused bounces in the past.

Support and resistance levels:

Support: The chart shows a long-term ascending trendline (blue diagonal line), which has been in place since 2022. It suggests strong support around $55,000.

Resistance:

The closest resistance is in the $64,000 - $65,000 range, which has been tested several times and caused price pullbacks. Technical Indicators:

Falling Wedge:

The chart shows a falling wedge pattern, which is usually a bullish signal. A breakout from this pattern suggests a possible continuation of the uptrend.

Volume:

Volume has not yet increased significantly, suggesting that the current breakout could gain more momentum if buying pressure increases.

Trendline Support:

The long-term trendline provides strong support, further confirming that despite short-term corrections, Bitcoin remains in an uptrend.

Forecast:

Uptrend: A breakout from the wedge suggests bullishness. A potential short-term target is $64,500-$66,000.

Stop Loss:

It is worth placing a stop loss below the support level at $61,500 to protect against a possible false breakout.

Take Profit:

The first target level is $65,000, with a further extended level at $66,500 if the bullish momentum holds.

Risks:

A pullback is possible if volume fails to support a breakout or negative macroeconomic news impacts market sentiment.

It is important to monitor global events and the overall cryptocurrency market situation to effectively manage your position.This is not a recommendation or advice