Why Bitcoin investors can expect a bull run from this defending zone

ambcrypto.com:

Disclaimer: The findings of the following analysis are the sole opinions of the writer and should not be considered investment advice.

Over the last seven months, Bitcoin [BTC] struggled to move past its trendline resistance (white, dashed) while affirming a robust bearish edge. The king coin saw a relatively dull phase post an expected breakdown from its bearish pattern over the last few days.

Here’s AMBCrypto’s price prediction for Bitcoin [BTC] for 2023-24

The heightened selling pressure has refrained the 20 EMA (red) and the 50 EMA (cyan) from looking north. Given BTC’s recent rebounding tendencies $18.4k-$18.7k range, buyers would look to stop the bleeding in the coming sessions. 

At press time, BTC was trading at $18,431.39, down by 3.53% in the last 24 hours.

After a bearish flag breakdown, can BTC float above its support range?

Source: TradingView, BTC/USDT

At the time of writing, BTC was striving to revive from its multi-yearly support zone in the $18.4K-$18.7K range. Should this range continue to uphold value in buyers’ minds, the coin could see a near-term revival toward the Point of Control (POC, red) level in the coming sessions.

This revival could extend the squeeze phase near the high liquidity range. In this case, the first major resistance for the coin would lie in the $19.3K zone. A plausible close above this barrier could pave a path in retesting the $20.3K ceiling.

But a sustained close below the $18.4K-mark could expose BTC to a test of its first major support level at the $17.6K level. Additionally, as BTC entered a low liquidity zone, it could potentially witness high volatility moves in the coming times.

Furthermore, The Accumulation/distribution’s higher troughs over the last few days marked a bullish