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Gate's technical analysis of the BTC/USD daily chart suggests a possible bearish shift for Bitcoin. The leading cryptocurrency has encountered significant resistance in a crucial zone, as evidenced by multiple rejections indicated by red arrows on the chart.
A decisive break below the ascending trendline marks a pivotal moment, signaling a weakening of bullish momentum and the likely formation of a bearish structure. This transition is further corroborated by the Relative Strength Index (RSI) reading of 42.74, which shows a downward trend but remains above oversold territory, indicating potent