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RE: LeoThread 2025-04-20 12:31

in LeoFinance5 months ago

Part 2/6:

Bitcoin has recently made notable movements on the charts. After breaking through a key channel, there is cautious optimism following the retest of this channel. The potential for Bitcoin to establish a triple bottom pattern might suggest a forthcoming upward trend. The analyst mentioned that if Bitcoin manages to surpass the ten-day moving average (MA) on the weekly chart, it could set the stage for a bullish rally.

Despite the initial resistance presented by the 10 MA, Bitcoin seems to be supported by the 50 MA on a weekly basis, which indicates strong foundational support. The analyst speculated that if Bitcoin mirrors past price patterns from late 2024, a significant rise could occur—potentially reaching levels much higher, such as $150,000.

The Role of MACD and Historical Patterns