$BTC Technical Analysis;

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1. Bitcoin has shown bullish momentum over the last 12-16 hours.

2. Sundays typically see a drop in volume, with an increase from Sunday to Monday, impacting prices.

3. Bitcoin is believed to be in a consolidation phase and may drop to support levels around 62,000 to 61,000.

4. Open interest has been bullish since yesterday afternoon but not strong enough for a significant uptrend.

5. Holding the support level could present opportunities for trading altcoins and witnessing rallies.

6. It's likely Bitcoin will drop to the support level, but reactions to it are being observed.

7. A significant increase in volume and open interest after hitting the support level could indicate its stability.

8. If volume and open interest don't rise, Bitcoin might drop below support towards 58,000.

9. The upcoming Federal Reserve interest rate decision and press conference next week may induce market volatility.

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