BITCOIN Support Zone Retest Signals Potential Uptrend Reversal
chart by ICM.com
Chartist Trader
6/21/20241 min read
Bitcoin is likely in the support area as it retests the demand zone. According to Dow Theory, in a downtrend, the formation of a new higher high and higher low instead of new lower lows and higher lows signals an early sign of a reversal into an uptrend. If the price closes above the downtrend channel, further price increases can be expected.
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