๐ The market under pressure โ April 7, 2025 ๐
Cryptocurrencies have witnessed a clear decline today, led by Bitcoin, indicating a correction phase in the crypto market.
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๐ป Bitcoin decline and price analysis:
โข Bitcoin is trying to find support at $74,000.
โข 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.
โข 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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๐ฅ Reasons for the decline:
1๏ธโฃ Global trade and political tensions:
โAffect investor sentiment.
2๏ธโฃ Decline in traditional financial markets:
โGlobal downturns push investors away from high-risk assets.
3๏ธโฃ Large liquidations:
โLiquidations exceeding $340 million increased selling pressure.
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๐ก Market analysis:
โข Current movements show collective pressures;
โข The upcoming market direction depends on the stability of support and resistance levels.
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โ Recommendations for traders:
โข Monitor the support level:
โโข If broken at $74,000 on the **4-hour** timeframe, caution is advised.
โข Pay attention to the resistance area:
โโข 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! ๐
#Cryptocurrencies #Bitcoin #ุชุญููู_ุงูุณูู #Trader_Recommendations
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