Bitcoin Price Prediction
Bitcoin‘s trading around the $43,097 mark, the asset is facing immediate resistance at the upper trend line of the pattern, around $43,375. A decisive breakout above this level could see the cryptocurrency testing higher resistance levels, potentially leading to further gains.
The 50-Day Exponential Moving Average (EMA) at $42,940 offers a supportive base, aligning closely with the lower trend line of the triangle, marking it as a critical support.
The Relative Strength Index (RSI) hovers around 54, indicating a neutral market sentiment without an immediate directional bias.
Bitcoin Price Chart – Source: Tradingview
Considering the pattern’s convergence, BTC is at a juncture that may precede significant price action.
A bullish break above $43,375 could initiate a rally, while a drop below the pivotal $42,950 could signal a bearish downturn.
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