$BTC Analysis

Price Analysis:

The current price of Bitcoin (BTC) is 94,367. The chart displays that BTC has been trading within a well defined ascending channel since September. Recently, the price experienced a significant decline from the upper boundary of this channel and has now entered a Strong FVG zone, which is highlighted as a potential support area.

Next Momentum:

The immediate momentum is at a critical juncture due to the price entering the FVG zone.

If the FVG zone acts as strong support, we could see a bounce, and the price might attempt to recover and move back towards the middle or upper part of the ascending channel.

However, if the FVG zone fails to hold as support, the price could continue its downward movement, potentially testing the lower trendline of the ascending channel for further support. The overall long-term trend remains upward as long as the ascending channel holds.