Bitcoin

<ul><li>Bitcoin shows signs of bottoming at $56,000, but a break above $61,000 is crucial for a bullish reversal.</li><li>Increased buying volume near $56,000 suggests strong support, yet Bitcoin needs to clear the $61,000 resistance to regain momentum.</li><li>Bitcoin&#39;s immediate target is $61,000, with potential next resistances at $63,000-$64,000 and $67,000 if bullish momentum builds.</li></ul>Bitcoin ($BTC) shows signs of a potential bottom around $56,000, <a href="https://x.com/CryptoFaibik/status/1809464781432320363" rel="noopener noreferrer nofollow">according</a> to Captain Faibik. However, it remains in a descending channel on the 4-hour chart. To regain bullish momentum, Bitcoin bulls must clear the $61,000 resistance area. Bitcoin has been trading within a descending channel, characterized by lower highs and lower lows.<img src="https://lh7-us.googleusercontent.com/docsz/AD_4nXenks9W973qKp2bkVUuTF5rLSR-6yDAEasLFvDXrOJ9ZJPi3HPX2mWgDIZI6iaj8HSTrjka5nVf5mJBlNfw0i_SpBdPmAmobjU2dgu7ctmEFZS1192ELfLWguUzxHgAhjpv_u6V9r4drzwY3X4ILNXQXpin?key&#61;cfNIoqaSQy-8GU7wj6wBWQ" />This bearish trend has persisted for several weeks, creating a challenging environment for bulls. The descending channel clearly indicates a lack of upward momentum, requiring a significant push to break free.<a href="https://cryptotale.org/bitcoin-bulls-eye-61k-resistance-to-reverse-bearish-trend-says-analyst/" 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>|

Bitcoin Bulls Eye $61K Resistance to Reverse Bearish Trend, Says Analyst

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