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Bitcoin is showing a recovery momentum after its decline. It tested the $68.5450 levels with an increase of 4% in the last 24 hours. This rapid recovery can be considered a sign that Bitcoin is starting to strengthen in the short term. However, for this formation to be fully confirmed, Bitcoin will need to overcome a certain resistance level.

Bitcoin bulls need to overcome the critical $71,850 resistance level to confirm an upside breakout from this pattern. Accordingly, a successful break above $71,000 could pave the way for Bitcoin to target $78,000 in the near term.

Based on these evaluations, I believe Bitcoin has reached a local bottom and will gradually rise over the next few weeks. Although it is difficult to make a definitive prediction about Bitcoin's future movement, I think the bullish scenario will begin at this point.

Be sure to read the previous post I shared last night and I am waiting for your comments. ✅✅