🚨 Urgent: Bitcoin Faces Downward Spiral – Will $51k Hold? 🚨
In the current economic situation, Bitcoin's price movement is under the siege of persisting inflation concerns, looming interest rate decision, and geopolitical unrest. Amid these challenges, it's crucial not to lose sight of the technicals. Here's the strategic breakdown:
📊 Bearish Target Insight: Aiming for a $54-$55k range as the next stop in this bearish journey.
🛑 Support Scenario: Watch the $51k battleground closely; this former consolidation zone is key.
🚷 Resistance Roadblock: Bulls face a stiff test at the mVAL; a significant hurdle to clear.
✅ Strategic Sum-Up:
The $54-$55k zone is pivotal in the current downtrend. Will buyers step in?
$51k is a crucial support level, potentially setting the stage for a bounce-back.
Overcoming the mVAL resistance is essential for a trend reversal.
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