Bitcoin has finally closed above its weekly channel

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After two days of fluctuating, Bitcoin has finally closed above its weekly channel, and global markets have reopened. Currently, BTC is positioned on the significant weekly support at $57,000, where we are awaiting a suitable reaction that could drive the price back up.

On the higher timeframes, we are observing the formation of a potential ascending triangle above the monthly support level. This pattern could lead to a final correction before initiating wave 3 of an upward move. However, this process might extend over the next few months.

Penafian

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