Bitcoin is testing the strong long-term upside supportÂ
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Bitcoin is slightly bouncing from the strong long-term upside support 14000-16000 zone. This bounce higher is coming after the swift downside swing following the FTX collapse and it could prove to be the last swing down in the sideways flag formation.
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The weekly chart reveals a test of the downside flag support line which was formed by a sideways-bullish flag that can lead to a substantial swing higher if we get a confirmed break above the 20500 and 25000 after that. There is a positive RSI divergence confirming the bottom,
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