Bitcoin holds on: Breakdown not confirmed - Is the rally back on?

Despite the sell-off in the AI and precious metals sectors due to poor U.S. inflation data, Bitcoin came back from the brink on Thursday, having broken down below its ascending channel. The bulls rallied back strongly and the $BTC price ended the day back inside the channel. Is this the first warning of a big breakdown, or is this a sign that the rally is not over yet? Bulls come to the rescue - small bullflag forming Source: TradingView Having broken down below the big ascending channel , the $BTC price looked done for as it fell to around $79,700. This was below the $80,300 horizontal support level, and it just needed a quick confirmation to flip this support into resistance.

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