The Bitcoin (BTC) price broke out from a long-term descending resistance line, confirming two bullish RSI readings in the process.
The Bitcoin price had decreased under a descending resistance line since reaching an all-time high of $69,000 in Nov. 2021. BTC broke out from the line in Oct. 2021 and validated it as support (green icon) the following month. The BTC price has increased since. It created a massive bullish candlestick last week. If the increase continues, the closest horizontal resistance area is at $24,300, while the closest Fib resistance is at $35,780.
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