#BTCRebound

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BTCUSD Sentiment Shifting: Is the Correction Phase Over?

The BTCUSDT market recently experienced a false breakout below the March low but quickly rebounded from that support level.

Current Price: $87,313.99 (+3.9%)

A breakout above the descending trendline that marked the correction phase indicates a gradual shift in sentiment toward a more bullish outlook. However, caution is still advised, as there's a chance this could turn into another false breakout. If that happens, an inverse head and shoulders pattern could potentially emerge.

Key resistance is forming near the $84,000 mark, where the price has repeatedly struggled to gain traction, emphasizing its importance as a critical level. In the near term, price action is expected to fluctuate between $84,000 and $89,000, with a possible retest of the March highs in sight.

While market momentum appears positive and bullishness could strengthen by month-end, this outlook remains sensitive to unexpected negative developments that may impact sentiment and price movement.

Mid-Term Target: Resistance zone around $94,800

If you found this analysis useful or have your own perspective, feel free to share it in the comments—I’d love to hear your thoughts!

Trade at your own risk.

Best regards,

Trade Cryptocurrency

Stay tuned for more updates.

#USChinaTensions #BTCRebound