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Altcoins season coming 🤩🤩🤩#CryptoMarkets #bnb #bitcoin
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Keep trading simple .. #TradingCommunity #CryptoMarkets #bitcoin #bnb
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From the image, here are key observations regarding Bitcoin’s market trend: 1. Descending Trend and Breakout Attempt: • The chart shows an initial strong downtrend, followed by a consolidation phase. • There was an attempt to break out of the descending structure, forming a symmetrical triangle. 2. Symmetrical Triangle Formation: • The price action formed a symmetrical triangle with lower highs and higher lows, indicating a compression in volatility. • The breakout from this triangle appears to have led to further bearish movement. 3. Key Support and Resistance Levels: • Support Levels: Around $76,000–$80,000, which has shown some reaction. • Resistance Levels: The $90,000–$95,000 zone is a major resistance area, previously acting as support. 4. Current Market Structure: • The price has rebounded slightly after a significant drop. • The price is currently testing a resistance level around $83,000. • If the price gets rejected here, another downward movement could follow. • If BTC reclaims the $85,000 level, a potential retest of higher resistance levels near $90,000 is possible. 5. Potential Market Scenarios: • Bullish Case: If BTC reclaims key resistance levels ($85,000+), it could move towards $90,000 and possibly retest $95,000. • Bearish Case: If BTC fails to break $83,000–$85,000 resistance, another move downward to retest the $78,000–$80,000 region is likely. #BTC #Market
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