BTC currently finds itself within a megaphone-like pattern, with the price nearing the upper trendline. This trendline presents immediate resistance, lying within the range of 42500-43500. Should this level hold, the potential for a significant drop increases, targeting the lower side of the megaphone around 36500-37500.
Megaphone patterns are known for their unpredictability, capable of breaking out in either direction. Vigilant monitoring of market dynamics is essential. Updates will be provided as needed.
In the scenario where the price fails to breach the lower trendline, the ultimate target around 50k could come under pressure.
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