Bitcoin price broke out of the pattern and showed an upside momentum.
However, the price was not able to break $26,000 and went down before touching it.
The immediate resistance on the upside is near the $25,800 level.
The next major support is near the $25,350 level.
A downside break and close below the $25,350 level might send the price further lower.
In the stated case, the price could drop toward $24,800 or even $24,500.
Elliott Wave theory pattern.
Bitcoin is currently following the Elliott Wave theory pattern.
According to this pattern, Bitcoin may test the $27,400 support level.
If Bitcoin breaks this support level, it could fall to the $22,800 level.
Also, there is a CME gap near $21,000
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