$BTC USDT 8 hours
📉 Current Technical Analysis:
Bitcoin tests below 100MA, which is a key resistance to the current price action.
The Ichimoku Cloud indicates bearish momentum, increasing selling pressure after the breakout of the rising wedge pattern.
📊 Possible Scenarios:
The correction will continue: If the price remains below 100MA and the Ichimoku Cloud continues to signal weakness, the market may face further declines.
Next supports: psychological levels and lower moving averages.
Break above 100MA: A break above 100MA can cancel the downtrend in the short term, suggesting an upward movement.
Next supports: Analysis of historical patterns and Fibonacci levels.
⚠️ Things to watch out for:
Volume: Confirmation of the direction requires increasing volume.
Indicators: RSI and MACD can help confirm divergences or continuation of momentum.
Summary: $BTC is at a turning point. A break above 100MA could be cause for optimism, but downward pressure suggests caution.