📉 The market under pressure – April 7, 2025 📉
Cryptocurrencies have witnessed a clear decline today, led by Bitcoin, indicating a correction phase in the crypto market.
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🔻 Bitcoin decline and price analysis:
• Bitcoin is trying to find support at $74,000.
• Maintaining this support may lead to a near-term rebound; however, breaking below it on the 4-hour timeframe indicates a continuation of the decline.
• The resistance area ranges around $80,000 - $81,000, and a rejection of a breakout here may support a trend reversal.
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🔥 Reasons for the decline:
1️⃣ Global trade and political tensions:
Affect investor sentiment.
2️⃣ Decline in traditional financial markets:
Global downturns push investors away from high-risk assets.
3️⃣ Large liquidations:
Liquidations exceeding $340 million increased selling pressure.
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💡 Market analysis:
• Current movements show collective pressures;
• The upcoming market direction depends on the stability of support and resistance levels.
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✅ Recommendations for traders:
• Monitor the support level:
• If broken at $74,000 on the **4-hour** timeframe, caution is advised.
• Pay attention to the resistance area:
• A rejection of a breakout at $80,000 - $81,000 with strong trading volume may indicate a rebound opportunity.
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Stay informed, and opportunities are coming, God willing! 🚀
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