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BTC Update ๐ฏ
As previously mentioned, if the price drops below 62.5k, it could signal a trend change to bearish in the perspective of (manipulated) PO3. Currently, BTC is trading around 63k, and I observe some bearish confirmation at the moment. With the weekend approaching, there may be low volume, leading to further correction rather than sideways movement, as the 4-hour closing appears precarious.
Additionally, it's the second time the 1-day downtrendline has broken down and retested successfully. Therefore, caution is advised in your trades.
If we fail to hold 62.5k, BTC may we see range between 57k to 53k. It's highly probable that 57k to 53k presents the best entry point during this Manipulate phase according to PO3.
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Check Chart I attached 1h, 4h, 1D then read this update so you can understand easily.
In this 1h chart order for bullish momentum to prevail islt's essential to regain control of the 1-hour (EMA) 200, which was the key Low Time Frame (LTF) indicator under observation.
However, the last night market activity has severely disrupted this trend, rendering it significantly less impactful for our analysis.
This is 1D chart you can see, the range low of that consolidation range between red support and green resistance is in perfect confluence with the uptrending channel on HFT. Indicating bearish sign because Maybe market face another huge correction and tap the red zone with take uptrends line support.
Only one good scenario still BTC holding this 4H 200 EMA. means market still control by bulls.
This is a very important HTF trend to monitor. I feel some weakness here as we are threatening to lose it.
If we losing this EMA200 support trend would confirm that bears are in control... Market in if we breakdown.
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