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Bitcoin Price (BTCUSD) Within Continuation Pattern – Forecast for June 3, 2024

Bitcoin (BTCUSD) Price Analysis

Bitcoin price (BTCUSD) is currently trading within a symmetrical triangle pattern, indicating a potential continuation of the main bullish trend. To confirm the resumption of the bullish wave, Bitcoin needs to break above the $69,110 level. If successful, the price is expected to rally towards $70,645 and then $73,800 as subsequent targets.

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Expected Scenario

Given the current symmetrical triangle pattern, we suggest a bullish bias for the upcoming sessions. However, it is crucial to monitor the $67,080 level. A break below this support would invalidate the bullish scenario and could lead to a bearish correction in the short term.

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Expected Trading Range

Support: $67,000

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Resistance: $70,600

Trend Forecast: Bullish

The technical indicators support a bullish trend, with the symmetrical triangle pattern signaling potential upward movement. Traders should watch for a breakout above $69,110 to confirm further gains towards $70,645 and $73,800. Conversely, a drop below $67,080 could trigger a bearish correction, altering the current positive outlook.

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