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BIAS:
Medium Term: BULLISH
Short Term: BEARISH
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📊 On the H1 timeframe $BTC broke its horizontal support zone at $90,133 to $89,649 after consolidation in the squeeze phase. This breakout signals the likelihood that price action will target lower levels of liquidity.
📉 Key liquidity levels to watch are at $89,220 and $87,739, which could be reached after a potential retest of the breakout zone below the pattern. Confirmation of the retest and a sustained bounce from previous support-turned-resistance would strengthen the bearish outlook.
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MAIN LEVELS OF INTEREST
⬇️BRIEFLY⬇️
$89,502
⬆️LONG⬆️
$88,572
PROJECTED DAILY RANGE
$89,963 to $93,330
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VIP STAFF ACTION PLAN
📊 On the H1 timeframe, the price action $BTC breaks its support level, signaling a continuation of the downward momentum. This move coincides with the growing dominance of USDT , which often reflects a flight to stability and bearish pressure on crypto assets.
📈 In addition, USDT dominance has formed a double bottom pattern, suggesting potential further dominance growth. A breakout above the neckline of this pattern could increase selling pressure on $BTC and other cryptocurrencies, leading to lower prices.
🔍 Keep a close eye on BTC price action and USDT dominance to confirm these trends. 💹
