BTC UPDATE ( 1D TF )
BTC is moving within a channel on the 1D timeframe and is following each step. If this channel breaks to the upside, a strong buying volume could rise, leading to high volatility in the market. However, if this channel breaks downwards, a strong selling pressure could rise, which could bring BTC down significantly.
Currently, the 50 EMA & 200 EMA is crossing above the candles, indicating a bearish movement. From a technical analysis perspective, 63.8k is a strong level for BTC, and I expect BTC to reach the 63.8k level first and then possibly decline.
Additionally, 61k is also a rejection area; if BTC gets rejected from here, it could drop to the 57k - 58k range.
