Bitcoin BTC Possible Breakout

BTC has already tested a breakout twice before in this extended downtrend and is now looking to test it a third time. The breakout patterns have been relatively similar and I expect the same in this case. If there is a break in the trend of the previous two breakouts that would be a decent signal that momentum is turning one way or the other.

S&P has had a strong reversal towards the weekly close and will fuel the bulls here for the time being. Will be crucial to see how BTC handles this resistance.

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