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Looking at Bitcoin’s chart, the past month has been volatile yet structurally familiar. The chart shows seven consecutive bullish monthly candles followed by recent reversal signals. Interestingly, the current candle pattern closely resembles March’s, suggesting that the market may be retracing previous lows rather than continuing a sustained rally.
The flagship cryptocurrency recently broke above $60,500 briefly, but signs of exhaustion remain, with the price testing support levels around $59,500. Historically, short-term holder cost bases hover near these levels, making them critical zones to watch for potential breakdowns or reversals.