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Bitcoin’s Potential Next Move
Bitcoin, the world’s largest cryptocurrency, is currently exhibiting signs that suggest a potential breakout or breakdown in the near future. The recent price action has formed a symmetrical triangle pattern, which is often seen as a continuation pattern. This means that the price is likely to break out in the direction of the previous trend.
If Bitcoin breaks above the upper trendline of the triangle, it could rally towards the $25,000 level. However, if Bitcoin breaks below the lower trendline of the triangle, it could fall towards the $20,000 level.
Traders should watch the price action closely in the coming days to see which way the breakout occurs. A breakout above the upper trendline would be a bullish sign, while a breakout below the lower trendline would be a bearish sign.
