$BTC Technical Analysis:-
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- Bitcoin found support around $61-62,000, consolidating within a daily range.
- Short-term trends on the 4-hour and 1-hour time frames seem bearish.
- Open interest increased slightly, with most new orders being long positions.
- Momentum has stalled in the past 3 hours.
- Strong confirmation from Bitcoin is needed before making predictions.
- Market structure suggests the bottom has been hit, with a breakout above $65,500 more likely than below $61,000.
- Positive spot buying in the last 18 hours is bullish.
- Potential calming of unrest in the Middle East could positively impact the market.
- The most likely scenario is a breakout above $65,000, leading to recovery and momentum.
- However, there's still a risk of breaking below $61,000, resulting in a significant price drop.
- Waiting for confirmation before making decisions is advised.
- Key levels to watch are $61,000 as main support and $65,500 as main resistance.
- Break above $65,000 could bring recovery; break below $61,000 could lead to a drop, with $58,000 as the first support level.
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