BTC is currently retracing to the weekly resistance level. After clearing minor sell-side liquidity, we are witnessing a correction in the premium price data arrays, including a bearish breakout point. We can anticipate the price clearing the minor buy-side resistance before potentially dropping below $20,000 when considering the weekly time frame. Additionally, a trendline support is forming below, which is likely to be breached later. At present, the price is testing a critical bearish resistance level. If a strong candle closes above this resistance, we can expect further upward movement.
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