VIP MARKET UPDATE: $BTC

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BTC is currently trading within a symmetrical triangle pattern. It recently bounced off the support trendline and is now attempting to break above the 100 EMA.

A successful breakout and retest of the 100 EMA would signal a potential move toward the triangle’s resistance trendline.

A confirmed breakout and retest of the triangle itself would provide a strong bullish confirmation. Until then, BTC may continue to consolidate within the triangle.

On the bearish side, a breakdown and retest of the triangle’s support would indicate a potential downward move.

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- Gazi Trading