Bitcoin is currently facing key resistance levels as market participants evaluate its next move. The cryptocurrency recently tested upper resistance and experienced a decline, but a strong demand at lower levels suggests that buyers are actively defending support. The 50-week Exponential Moving Average (EMA50) serves as an essential support level, historically leading to upward trends. Indecision is seen in the market with wicks on both ends of the candles, implying a conflict between buyers and sellers. However, a breakout above a descending trendline suggests a shift in momentum, with a potential target area of $108,000 if upward momentum is maintained. Bitcoin may retest the broken trendline before continuing higher, and failure to hold above resistance could result in another correction.



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