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📊 Bitcoin (BTCUSDT) Technical Analysis

🔹 1. Price Action

BTC made a recent high at 124,474 and has been trending lower since then.

Current price is 115,372, forming lower highs and lower lows, confirming a short-term downtrend.

🔹 2. Trendline

Price is approaching the green uptrend support line.

A decisive break below this level may increase downside momentum.

🔹 3. RSI (Relative Strength Index)

RSI is currently at 34, close to the oversold zone (30).

This shows strong selling pressure but also signals that a potential bounce or reversal could be near.

🔹 4. Key Support & Resistance Levels

Support Zones: 114,366 → 108,446 → 98,200

Resistance Zones: 120,007 → 124,474

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📉 Conclusion

Short-term trend: Bearish (lower highs + lower lows).

Major trend: Still bullish as long as the 108,000–110,000 zone holds.

👉 In simple terms:

Market is currently in a correction phase.

If BTC holds above 114k–112k, the broader uptrend can resume.

If this zone breaks, price could drop to 108k and then 98k.

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📊 Possible Scenarios

✅ Bullish Scenario (Uptrend Continuation)

Price defends the 114k–112k support zone.

RSI bounces from oversold.

Upside targets: 120k → 124k.

Break above 124k → potential move to 130k+.

❌ Bearish Scenario (Downtrend Continuation)

Daily close below 114k triggers deeper downside.

Next supports: 108k–110k.

If this zone breaks → price may extend to 98,200.

➡ Sideways / Consolidation

BTC may range between 114k–120k for some days.

This acts as a decision zone before a major breakout or breakdown.

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📌 Trading Insights

For Short-Term Traders:

Consider longs near strong supports (114k or 108k) with proper stop-loss.

Consider shorts only if price closes below 114k.

For Long-Term Investors:

Current correction is healthy within the larger uptrend.

Long-term structure breaks only if 98k fails.

Strong long-term buying opportunities lie near 108k and 98k.

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#BTCAnalysis #Crypto #Bitcoin #BTCUSDT

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