Bitcoin briefly fell below $59,000 last night before rebounding to reclaim the critical $61,000 level in a rapid V-shaped recovery. Historical data indicates that similar swift recoveries on a 30-minute resolution have consistently led to either higher gains or sideways trading, with few instances of further declines.

Last week, Bitcoin dropped from $62,000 to around $61,000 before quickly rebounding and trading above $61,000 for several days, eventually reaching $62,800.

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Author: Liam ‘Akiba’ Wright