Bitcoin Market Analysis: Critical Juncture Ahead
Following the breakdown of the ascending triangle pattern, Bitcoin (BTC) experienced a decline in price, but managed to rebound upon reclaiming horizontal support. Currently, it is trading below the identified horizontal resistance level.
The market is poised at a pivotal moment: rejection of this support and a subsequent breakdown would confirm a bearish trend. Conversely, a breakout followed by a successful retest of the horizontal resistance would signal a bullish reversal.
Stay tuned for updates as the market navigates this critical juncture.
