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I defined the support and resistance ranges in the chart.
If Bitcoin closes above $ 41,700 in weekly timeframes, it could rise to $ 48,300 and even $ 52600.
Of course, this growth was expected due to the slowdown in the Federal Reserve’s contractionary policies.
But if Bitcoin fails to break the resistance range mentioned, it can start a new bearish rally, which you can see in the well-defined charts.
Finally, my personal opinion is that the bit may have a short peak, but overall the downtrend is still ongoing and is only suitable for volatility .