Bitcoin Holds Strong: Is This the Start of a New Bull Run?

Is Bitcoin Ready to Surge Higher? This Signal Hints at Strength

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Bitcoin has experienced a slight pullback after its impressive surge in the latter half of last week, dipping below the $60,000 mark. However, despite this temporary weakness, the short-term outlook remains positive. The current price action sits comfortably within the bullish engulfing bar formed on September 13, suggesting that the path of least resistance is still upward.

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Could this be the bottom for Bitcoin? While prices are retracing, on-chain data paints a promising picture, with key metrics indicating continued strength in the market. […]