Bitcoin broke through resistance, with the rally driven by improved fundamentals following news of the adoption of a law on digital asset market transparency. Technically, the market is breaking the structure, showing bullish sentiment.
Regulation creates the foundation for the growth of the crypto market by attracting institutional capital. However, it will take time and confirmation of the practical implementation of the new regulations for the market to return to its historical highs.
Scenario: a retest of 94,000 may end in a false breakout of support (break-even area). Consolidation above the above support will be a good sign of readiness for continued growth. A breakout of the local high will confirm the bullish market structure.
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