$BTC Here is a detailed summary of the "BTC DETAILED UPDATE" post on Binance Square:
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🔍 Technical Analysis on Price
There is strong resistance around $86,500, within a Rising Wedge pattern (a potential bearish pattern).
BTC recently broke through $83,800 thanks to the formation of an inverted head and shoulders pattern, and is now retesting this level.
There is a possibility that this break could be a false breakout, but it is supported within the ascending wedge.
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🎯 Future Scenarios
Resistance target at $86,500:
If the price can settle above it, the upward trend could continue and reach higher levels.
However, if a rejection occurs at this level, a drop below $80,000 is likely.
Summarized trading strategies:
1. Long condition: If it stabilizes and settles above $86,500.
2. Short condition: If there is a breakdown from within the ascending wedge and a retreat back below $83,800.
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⚠️ Important Note
This is not investment advice; rather, it is technical analysis based on data published by the content writer ($CRYPTO_APE$).
The post encourages relying on personal research (DYOR) and not to follow any analysis blindly.
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🧠 Summary
Scenario Condition Expected Movement
Upward Closing above $86,500 Continuation of the upward pace
Downward Downward breakout from the wedge Correction towards below $80,000
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