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From a simple chart technical analysis in my personal perspective, a rising wedge has broken downwards, followed by the formation of a falling wedge. Divergence is currently forming on the 4h, 2h, and 1h charts. Weekly charts also show divergence forming, making the weekly close crucial. However, divergence has not been confirmed on the daily chart. From a macro perspective and based on on-chain data, an upward trend seems likely. The direction is expected to be clarified after the weekly close.
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