June 19 (Cointime) - Bitcoin has experienced a surge in demand after testing a crucial ascending support line, but the short-to-mid term outlook is still not promising. However, the upcoming halving event may benefit the long-term performance of Bitcoin.
The lower range of Bitcoin has been limited above an ascending support line, and its recent retest of the same support line has resulted in some upward movement. Bitcoin holders should take into account the next Bitcoin halving, which has historically seen strong accumulation leading up to it, and may have a significant impact on BTC's demand.
The current level of Bitcoin demand in the market is relatively low, but the slight upward movement may suggest that the market is ready for a recovery.
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