Immediate support around $56,900. Key support areas include $55,800 – $56,200 and $54,600. Key support level at $52,940. Immediate resistance at $58,000. Higher resistance levels at $59,200 and $60,800. BTC is trading above a crucial support trendline, indicating bullish potential.
The yellow trendlines mark key support and resistance levels. There is a confluence of support levels around $56,900. A sustained move above $58,000 could point to further potential upside.
Key targets would be $59,200 and $60,800. The green path on the chart indicates a potential bullish rally. A breakdown below $56,900 could lead to a decline towards $55,800 – $56,200.
Support levels to watch further are $54,600 and $52,940. The highlighted area around $55,800 – $56,200 remains crucial to maintain the bullish structure. Watch out for a breakout above $58,000 or a breakdown below $56,900.
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