Bitcoin has once again surged impulsively, defying several bearish signals hinting at a potential correction phase.
Despite these warnings, the price has broken through a significant resistance level that has persisted over multiple months, signaling a strong presence of buyers in the market and the potential for the continuation of the current trend.
Technical Analysis
By Shayan
The Daily Chart
A deep dive into the daily chart underscores Bitcoin’s sustained bullish trend, showcasing the prevailing dominance of buyers. Recent price movements reflect robust confidence among market participants, propelling the cryptocurrency past numerous critical and psychological resistance levels.
Notably, heightened buying pressure and strong bullish momentum have propelled the price above the upper boundary of the multi-month ascending channel, previously a formidable barrier to bullish advances.
This breakthrough triggered a short-squeeze event, activating a cascade of buy-stop orders. Consequen
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