⚠Bitcoin is currently trading in a wide horizontal range on a daily chart. Depending on whether there is a breakout to the upside or downside, I see two potential outcomes.
In a bullish scenario, if the price breaks and closes above the all-time high resistance level of 73,670 on a daily chart, I anticipate a bullish movement to at least the 82,000 level.
In a bearish scenario, if the market breaches the support level of 59,500 and closes below it, I expect a bearish movement towards the 52,500 support level.
As always, a breakout is the best confirmation, so it is important to wait patiently for that to occur.
In a bullish scenario, if the price breaks and closes above the all-time high resistance level of 73,670 on a daily chart, I anticipate a bullish movement to at least the 82,000 level.
In a bearish scenario, if the market breaches the support level of 59,500 and closes below it, I expect a bearish movement towards the 52,500 support level.
As always, a breakout is the best confirmation, so it is important to wait patiently for that to occur.
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