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Bitcoin Rebounds Above $60,000, Eyeing Key Resistance Levels
Bitcoin has made a strong recovery on the 1-hour chart, trading at $60,236.78 after dropping to a low of $58,482.89 earlier today. The cryptocurrency has rebounded sharply from these lows, managing to climb back above the crucial $60,000 level, which is now acting as immediate support.
Despite the recent sell-off, Bitcoin's ability to recover above the 20-hour moving average at $57,977.97 suggests that bullish momentum might be returning. However, the market remains cautious, as Bitcoin faces significant resistance around $62,000, which aligns with the recent high and the downward trend from earlier in the week.
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