⚠️ Bitcoin Under Pressure :

Geopolitical Risks Signal Potential Decline

#BTC☀ #Bitcoin❗ #btcupdates2024 #BinanceSquareFamily

#Write2Earn!

Key Observations :
Support Breakdown : Bitcoin has broken the bottom support of the ascending channel at $97,192–$97,773, signaling potential bearish momentum.

ALLIGATOR Indicator : Declining moving averages of the ALLIGATOR suggest waning bullish energy and reinforce the likelihood of further price drops.

Geopolitical Impact : Increasing global tensions add selling pressure, amplifying bearish sentiment.

Technical Setup

Support Levels :
$93,653 : Key target if the downtrend continues.
$90,000 : Next major psychological support.

Resistance Levels :
$97,192–$97,773 : Crucial resistance range; must be reclaimed to shift momentum bullish.

Pro Tip for Investors
Short-Term Strategy : Watch for price action around $93,653; a bounce here may offer short-term trading opportunities.

Volume Confirmation : Look for rising volume at support or resistance levels to validate potential reversals or breakdowns.

Conclusion :

Bitcoin's break below the ascending channel's support suggests bearish continuation toward $93,653. The ALLIGATOR indicator's bearish signal and external geopolitical pressures strengthen this outlook. Reclaiming the $97,192–$97,773 resistance zone is critical for a bullish reversal.

💡 Advice to Investors :
Exercise caution in this volatile environment. Avoid aggressive long positions unless Bitcoin reclaims $97,773 with strong volume. For short-sellers, set tight stop-losses above resistance levels to protect against sudden reversals. Adapt to the trend, but always manage risks effectively.