RE: LeoThread 2025-05-06 20:36

Part 2/7:

Previously, it was indicated that Bitcoin broke out from a downward channel, facilitating a substantial price pump. However, a crucial observation is that typically, when a resistance level is breached, the price retests this zone to confirm its new status as support. So far, Bitcoin has not experienced this retesting, which analysts believe is necessary. The consensus is that the price may need to retreat to the resistance level before progressing upwards again, potentially to reach higher targets.

Two Possible Outcomes

At this stage, there appear to be two possible scenarios:

1. Pump & Retest: The price might rise initially before ultimately dipping down to retest the previous resistance level, proving it as a robust support area.