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At Extreme Investor Network, we are dedicated to providing our readers with unique and valuable information to help them navigate the world of trading and investing. Our Research Team has been closely monitoring the recent movements in the BTC/USD market, and we are excited to share some insights with you.
Recent data indicates that BTC/USD bulls have been making a strong comeback, with the price forming a daily inverted head and shoulders pattern. This pattern, with key levels at $59,559, $56,478, and $60,165, has led to a breakout above the neckline and a potential profit objective around the all-time high of $73,845.
But what does this mean for traders this week? The Relative Strength Index (RSI) is showing positive momentum on both the weekly and daily charts, indicating a bullish outlook. With a decision point area at $64,612-$66,484 holding ground, there is potential for the price to continue its upward momentum towards the all-time highs. This could also signal a breakout above the weekly chart’s bullish flag pattern structure.
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