As Bitcoin's price continues to consolidate, we're seeing a distinct pattern emerge. The asset is forming a descending triangle, a classic reversal pattern. If broken, we can expect a surge upwards, potentially reaching $60,000-$70,000. However, if the triangle holds, we'll see a continued decline, targeting $30,000. Market direction depends on the next move.

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The descending triangle is a classic reversal pattern, but it's crucial to analyze the underlying market sentiment and order flow to determine the likelihood of a breakout or breakdown.