Bitcoin has recently shown positive market movements. Yesterday, on the 1-hour chart, BTC Trading Volume significantly rose and successfully broke through the important resistance level of 114,400. This price level has not only been a resistance multiple times but is also a key point where the descending trend line exerts pressure.



By drawing rising and falling trend lines, we can observe that a potential W-bottom formation is developing at the bottom. This technical pattern is often seen as a strong reversal signal, which may indicate a significant change in future price trends.

For traders seeking entry opportunities, there are two key pullback buy levels worth noting:
near 114,400
2. Rising trend line position

However, investors should also be cautious. If the worst-case scenario occurs, where the price falls below the rise trend line, we may see BTC test the bottom support level of 119,000 again.

Overall, the current market structure provides a potential rebound opportunity for Bitcoin. However, investors should closely monitor key support levels and adjust their strategies promptly based on market changes. In this cryptocurrency market full of opportunities and risks, it is crucial to remain vigilant and flexible.
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staking_grampsvip
· 10h ago
Brothers, charge, charge, charge! Bullish, bullish!
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BTCBeliefStationvip
· 19h ago
Embrace the baptism of BTC, everyone.
View OriginalReply0
GasFeeCriervip
· 08-07 01:52
The buy the dip party is ready.
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AirdropFatiguevip
· 08-07 01:51
Writing another short essay? Too pessimistic.
View OriginalReply0
JustHereForAirdropsvip
· 08-07 01:51
To da moon just buy the dip, Cut Loss just get on board
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NFTArtisanHQvip
· 08-07 01:50
the aesthetics of this w-bottom pattern is like a minimalist kandinsky tbh... pure market poetry
Reply0
EyeOfTheTokenStormvip
· 08-07 01:48
What about the W bottom? I'm about to throw up from day trading.
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