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Bitcoin Short Analysis (as of April 17, 2024, 2.00 AM Bangladesh Time)

Support and Resistance:

Bitcoin is currently facing support at $62,000 and $60,000. These are areas where buyers are likely to step in and prevent further price dips.

Resistance lies at $64,000 and $65,800. Overcoming these levels with significant trading volume would indicate a potential price increase.

Market Movement:

Bitcoin recently failed to hold above $66,000 and is now consolidating.

Sideways trading is expected for the week leading up to the Bitcoin Halving on April 20th.

Whales and News:

Large investors (whales) are reportedly accumulating Bitcoin in anticipation of the Halving.

Negative news, particularly regarding war, could lead to a price drop.

Overall Sentiment:

I consider the market sentiment to be bullish despite the recent consolidation.

Disclaimer: This analysis is for informational purposes only and should not be considered financial advice.

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