Bitcoin

Bitcoin, trading at <a href="https://coinmarketcap.com/currencies/bitcoin/" rel="noopener noreferrer nofollow">$61,046</a> at press time, exhibits a potential bullish momentum.A crypto influencer, Open4profit, recently shared a bullish outlook for Bitcoin. He pointed to consolidation near a key resistance level as a sign of a possible breakout.<h2 id="header-0">Consolidation Under Resistance</h2>Open4profit’s recent analysis shows a descending channel pattern on <a href="https://cryptotale.org/bitcoin-volume-spikes-to-37-4b-amid-dormant-whale-moves/" rel="noopener noreferrer nofollow">Bitcoin’s</a> chart. The upper red line represents a sloping resistance level. Bitcoin has been repeatedly rejected at this level in recent months. The lower green line indicates a similar sloping support level, showing where Bitcoin has found support. Between these lines, a white dashed mid-channel line serves as a pivot zone for short-term price movements.Related: <a href="https://cryptotale.org/bitcoin-could-reach-90k-if-trump-wins-u-s-election-report/" rel="noopener noreferrer nofollow">https://cryptotale.org/bitcoin-could-reach-90k-if-trump-wins-u-s-election-report/</a>Currently, Bitcoin is experiencing volatility near a key support level, positioned below the resistance level, which is considered a bullish indicator according to Open4profit. Such a style of consolidation can indicate the approach of the breakthrough. However, it is crucial to note that, if Bitcoin continues to trade above the associated support, a breakout of the descending channel is possible. The potential for a price jump has been identified, aligning with the upward trend indicated by the big green arrow in the analysis. This could catapult Bitcoin to cross over $70 000.<a href="https://cryptotale.org/btcs-calm-near-resistance-signals-potential-breakout/" rel="noopener noreferrer nofollow">Read more on Cryptotale.</a>Visit the links for more information <a href="https://cryptotale.org/" rel="noopener noreferrer nofollow">Website</a> | <a href="https://twitter.com/cryptotalemedia" rel="noopener noreferrer nofollow">Twitter </a>| <a href="https://t.me/cryptotale_news" rel="noopener noreferrer nofollow">Telegram </a>| <a href="https://www.instagram.com/cryptotalenews/" rel="noopener noreferrer nofollow">Instagram </a>|

BTC’s Calm Near Resistance Signals Potential Breakout

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