Bitcoin broke above a short-term downtrend and looks poised to retest its all-time price high of about $66,900.
Upside momentum is improving after a two-week consolidation phase of between $60,000 and $64,000.
If a new all-time high is confirmed, indicators suggest further upside for BTC’s price, initially toward the $86,000 resistance level.
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Damanick is a crypto market analyst at CoinDesk where he writes the daily Market Wrap and provides technical analysis.
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