#BTC/USDT ANALYSIS
Bitcoin is currently rebounding from the support trendline of a descending channel and trading within a key horizontal demand zone. The Ichimoku Cloud is acting as overhead resistance, while the 200MA beneath the channel signals bullish strength.
A bounce from this level seems likely. However, if Bitcoin breaks below both the horizontal demand zone and the support trendline, it could lead to a bearish move, signaling further downward momentum in the market.
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