Bitcoin Weekly Outlook – Potential Correction & Long-Term Trend

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Bitcoin has reached a critical resistance level within its long-term ascending channel. A possible correction towards the $58,000 - $48,000 range could occur before the next upward impulse.

The blue dashed trendline represents a key support level that, if broken, may lead to a deeper retracement. However, a bounce from this area could trigger a bullish continuation towards the upper channel resistance at $120,000 in the long run.

Key levels to watch:
🔴 Resistance: $78,359
🟢 Major support levels: $58,632 & $48,324

What are your thoughts? Will Bitcoin retrace before its next bullish move? 🚀

Penafian

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