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Bitcoin (BTC) Analysis: Bullish vs. Bearish Scenarios 馃搱馃搲
The BTC/USDT 7-hour charts are presenting two potential scenarios鈥攂ullish and bearish. Here鈥檚 a breakdown of what to watch for each:
馃搱Bullish Scenario:
1锔忊儯 Support Zone Bounce:
BTC recently experienced a liquidity sweep under the support zone (Order Block - OB) around the $58,000 level. This sweep has already occurred, indicating a possible false breakdown where buyers have stepped in aggressively.
Following this liquidity sweep, there is potential for a bounce back up if buyers continue to defend this zone.
2锔忊儯 Upside Targets:
If BTC continues to hold above the support zone and breaks above the initial resistance around $60,000, the next major resistance levels to watch are $64,000 and $68,000.
A successful break above these levels could pave the way for a move towards the $70,000 - $76,000 range, completing a bullish trajectory.
3锔忊儯 Confluence Factors:
The bullish scenario is supported by the recent liquidity sweep, which often precedes a rebound, combined with the potential for a rally from the trendline support.
馃搲Bearish Scenario:
1锔忊儯 Rejection and Breakdown:
If BTC fails to sustain above the $58,000 support zone after the liquidity sweep and breaks down further, it could indicate a bearish continuation.
2锔忊儯 Downside Targets:
A breakdown below the support zone could target the $54,000 - $52,000 area, where the next significant support lies.
A continued bearish move could potentially push BTC down to the $48,000 - $45,000 range, aligning with the broader support level marked on the chart.
Conclusion:
Bullish Case:
Watch for sustained buying above the support zone and a break above $60,000 to confirm a bullish trend, targeting $64,000, $68,000, and beyond.
Bearish Case:
A further breakdown below $58,000 could signal additional downside, with targets around $54,000, $52,000, and potentially lower to $48,000.
