Bitcoin has formed an ascending triangle pattern, suggesting a potential rebound despite recent price declines. The cryptocurrency has dropped from a year-to-date high of $94,515 to $89,853, erasing earlier gains. The pattern indicates a bullish continuation, with resistance at $94,516 and potential targets at $98,115 and $103,528 if the price breaks above these levels. The upcoming US non-farm payrolls data, expected to show 64,000 jobs added in December, could influence Bitcoin's trajectory. A weaker jobs report might prompt the Federal Reserve to cut interest rates, potentially boosting Bitcoin. Additionally, Bitcoin's outlook is supported by ongoing institutional accumulation and potential regulatory clarity from the US Senate's market structure bill.
Bitcoin Forms Bullish Pattern Amid Upcoming US Jobs Data
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