Bitcoin’s ascent toward establishing a new high resistance

Bitcoin’s slow ascent toward establishing a new high has continually faced significant resistance over the past few weeks, leaving the market uncertain about its future trajectory.

Technically: The market is forming an uptrend within a broader bullish structure, as reflected on the charts. However, during this consolidation phase, Bitcoin remains under pressure from bears. This has resulted in a false breakdown of the consolidation range, while price action continues to approach the key resistance level at 122K.

You may find more details in the chart.
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