Bitcoin: On the brink to give a breakout?

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 Bitcoin daily chart

Analysis

In my previous update I had mentioned that, "Bitcoin has a crucial support near to $25500-$25400 levels. Any bounce from these levels will soar price towards $27300 levels. Break above $27500 will then open further positive possibilities."

The crypto bounced near to the support levels and made a high of 26789, there are high chances that it will achieve the level of $27300. But for further positive possibilities to open it is important that $27500 is taken out.

To read the previous update on Bitcoin, click on the below mentioned link

https://www.marketanalysiswithmeghmody.com/2023/06/bitcoin-in-ending-diagonal-pattern.html

Prices are still moving in an ending diagonal and it is in wave v of wave c of wave ii. Once this leg is over and a break above $27500 is established, then there is a high possibility for the crypto to cross $33000 levels going ahead.

The summation is Bitcoin needs to move above $27500 to open further positive possibilities which can soar prices towards $33000.

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