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Bitcoin Starting to Show Bullish Signs

Written By: ChartChamp

August 22, 2024

BItcoin has traded sideways for several days now, but started to break out of the pattern yesterday. BTC is above the white zone, and is trying to flip the white zone into support. BTC is also trading within a white bear pennant structure, but is forming a breakout to the upside. Currently BTC is resting on two key support levels around $60,300. I’m not quite convinced that we are forming a bullish breakout just yet. I think August will close red so I will give BTC some time here.

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