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Technical analysis and wave path for the BTC/USDT currency pair
The wave analysis of Bitcoin indicates that we are in the final fifth wave of an expanded upward movement, providing a confirmed structural outlook on the long-term bullish trend.
Momentum has not shown any bearish divergences, implying that the bullish trend remains strong, and no negative reversal indicators have appeared.
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🎛️ Momentum and technical support
The RSI and MACD levels in the lower time frames indicate a slight slowdown in momentum, especially after breaking the resistance level at $121,000, where the movement indicators turned red in MACD, hinting at a potential temporary correction.
Nonetheless, the structure remains strongly bullish, as long as the price stays above the previous resistance levels that have now become support (such as $116,000–$118,000).
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