Bitcoin: Price Breaks Out Of Consolidation And Retests The $112,000 High (Technical Analysis)

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Summary

  • Bitcoin surged 2.8% on Wednesday to retest May's all-time high.
  • Profit-taking signals emerge from long-term holders' on-chain activity.
  • $110,530 support to prevent Bitcoin from falling back into its eight-week range.

The New Gold. Bitcoin Concept

BlackJack3D

By Sholanke Dele

Bitcoin price surprised traders on Wednesday by posting a sharp 2.8% surge, its biggest gain in six days.

The move broke through a narrow five-day range between $107,350 and $109,800, pushing price above June’s high at $110,530 and retesting

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