$BTC
🚨Bitcoin Technical Analysis Update🚨
➡️In today’s update, we look at Bitcoin's price using key levels and moving averages. From the chart, we can see that the local support for Bitcoin is at $60,300, but the stronger and important support is around $60,000. This level is critical because it’s both a psychological level and the 200-day moving average, which often acts as strong support. The current resistance is around $61,500, which is the 50-day moving average.
➡️If Bitcoin drops below the 200-day EMA, the next key support will be between $57,000 and $58,000. I believe these two supports will hold unless there is some bad news coming in the market.
➡️If geopolitical events, like the Iran-Israel conflict, worsen, we could see Bitcoin break through these two important supports. If that happens, this month could turn into "Dumptober" instead of the bullish "Uptober," going against the usual trend of Bitcoin's strong performance during halving years.
➡️However, as long as Bitcoin stays above these two supports,