BITCOIN$BTC IN MIXED SIGNALS

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Last Friday (25), $BTC retested the 0.382 Fibonacci retracement level of its last upward movement. This was the second test made at this level (orange circles), which for now acts as strong support.

On the optimistic side, this movement could create a double bottom, a pattern that usually precedes reversals to upward trends. In addition, the Relative Strength Index (RSI) on the 4-hour chart is above 50, which shows that buyers have some advantage.

However, $BTC also appears to have formed a double top pattern at $68,950, which could prevent further gains as this is a known bearish reversal pattern.

Therefore, the most likely scenario for the rest of the day is a consolidation between these levels. In this sense, a bounce above $68,950 could push the price above $70,000, while a drop below the 0.283 retracement level could trigger a drop to $63,065.