ANALYSIS #BTC /USDT
Currently, Bitcoin is consolidating within a descending channel. It is facing a rejection from the channel's resistance line, indicating selling pressure at higher levels.
On the other hand, the 20MA acts as dynamic support just below the current price action.
A decisive breakout above the channel resistance, accompanied by strong volume, could signal a potential bullish trend reversal and trigger upward momentum.
Conversely, a breakout below the 20MA could lead to further declines, potentially extending the bearish trend within the channel.
Watch for price action near these key levels to confirm the next directional move.