Bitcoin (BTC/USDT) Daily Analysis โ€“ Buying Opportunity Ahead

๐Ÿ“… Date: April 16, 2025

๐Ÿ“ˆ Chart Timeframe: 1D (Daily)

๐Ÿ’น Pair: BTC/USDT

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Chart Overview

Bitcoin has been forming a falling wedge pattern on the daily timeframe, which is typically a bullish reversal setup. After an extended correction from the $110,000+ zone, BTC appears to be finding strong support around a major buying area near the $72,000โ€“$76,000 range.

The chart shows confluence from multiple technical levels:

- Rising trendline support from past higher lows.

- Demand zone (highlighted in blue) aligned with historical support and accumulation zones.

- Price action nearing the bottom of the wedge, indicating a potential breakout.

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Technical Analysis

๐Ÿ“Œ Pattern: Falling Wedge

๐Ÿ“Œ Support Zone (Buying Area):$72,000 โ€“ $76,000

๐Ÿ“Œ Immediate Resistance: $88,000 โ€“ $90,000

๐Ÿ“Œ Major Resistance Zone: $108,000 โ€“ $112,000 (Supply zone in red)

๐Ÿ“Œ Trendline Support: Long-term trendline intact

Price Outlook & Prediction:

Based on the current setup:

manage your risk! ๐Ÿš€