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BTC/USDT Technical Analysis – Bearish Outlook!
Market Structure & Pattern:
Bitcoin is forming a descending wedge, with lower highs indicating weakening bullish momentum.
The price is testing the ascending trendline support, which, if broken, could lead to further downside.
Anticipated Move:
A short-term bounce may occur, but a rejection from resistance is expected.
BTC is likely to break below support, leading to a move toward the $80,000 - $81,000 demand zone.
Key Levels to Watch:
Resistance: $89,200 – $90,000 (Potential rejection area)
Support: $85,000 (trendline), then $80,000 - $81,000 (target zone)
$BTC
Confirmation & Invalidations:
A confirmed break below the trendline supports the bearish outlook.
Bullish invalidation: A strong breakout above $89,200 - $90,000 could shift momentum back to the upside.
Conclusion:
The current structure suggests a bearish breakdown, with a target of $80,000 - $81,000 unless resistance is broken. Monitoring price action at key levels is crucial for confirmation.
Trade at your own Risk 👍
Best Regards, Trade Cryptocurrency
Stay Tuned for Further Updates.
#CryptoMarketWatch
#CryptoMarketWatch
Bitcoin is forming a descending wedge, with lower highs indicating weakening bullish momentum.
The price is testing the ascending trendline support, which, if broken, could lead to further downside.
Anticipated Move:
A short-term bounce may occur, but a rejection from resistance is expected.
BTC is likely to break below support, leading to a move toward the $80,000 - $81,000 demand zone.
Key Levels to Watch:
Resistance: $89,200 – $90,000 (Potential rejection area)
Support: $85,000 (trendline), then $80,000 - $81,000 (target zone)
$BTC
Confirmation & Invalidations:
A confirmed break below the trendline supports the bearish outlook.
Bullish invalidation: A strong breakout above $89,200 - $90,000 could shift momentum back to the upside.
Conclusion:
The current structure suggests a bearish breakdown, with a target of $80,000 - $81,000 unless resistance is broken. Monitoring price action at key levels is crucial for confirmation.
Trade at your own Risk 👍
Best Regards, Trade Cryptocurrency
Stay Tuned for Further Updates.
#CryptoMarketWatch
#CryptoMarketWatch
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
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