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BTC Forming a Bullish Bounce off the Bull Pennant

Written By: ChartChamp

May 20, 2024

In my previous update I discussed how BTC is attempting to flip the bull pennant resistance line into support. A bullish bounce has been forming along the white trendline in an attempt to flip this resistance line into support. I would like to see some buy volume over the next few days, and I have $69k as the next key resistance target.

BTC Approaching $69k

BTC has spiked above $68k and there is a lot of bullish momentum behind these moves. I think we can blast straight through $69k, but I also wouldn’t be surprised to see resistance there.

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