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Bitcoin Update: Bull Flag Formation and Key Buy Opportunity at $55,400

Here’s a quick update on Bitcoin.

We’re currently still within the bull flag formation that’s been developing since March.

Bitcoin is trading around the 200-day moving average, a significant demand zone.

Historically, when Bitcoin retraces to the 200-day moving average, it tends to hold and bottom out, even if the price dips slightly below this level.

The RSI is significantly oversold and is beginning to form a bullish divergence.

The bottom of the bull flag, around $55,400, is a strong buy opportunity.

linktr.ee/jasonregalado

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