"The market is very sensitive, so act wisely."
Urgent Urgent Urgent $BTC update
The chart indicates that Bitcoin is facing strong resistance at the 58,606.6 USDT level. Several attempts to break through this resistance have failed, suggesting that the price might struggle to maintain its upward momentum. This repeated inability to surpass the resistance level increases the likelihood of a pullback in the near term.
If the price fails to hold above 58,000 USDT, it could start dropping, with potential support at 57,627.7 USDT. A further breakdown could lead to testing the 56,494.1 USDT level. The overall trend is showing signs of weakness, especially given the multiple rejections at resistance. Until there is a clear breakout above 58,606.6 USDT with significant volume, the probability of a downward move remains high.
In summary, Bitcoin needs to break above this resistance to confirm an upward trend, but the current scenario suggests a higher chance of a price drop towards lower support levels if momentum weakens further.
In conclusion, Bitcoin’s failure to break through the strong resistance at 58,606.6 USDT signals a potential weakness in its upward trend. If it cannot surpass this level soon, the likelihood of a pullback increases, with possible drops toward 57,627.7 USDT and even 56,494.1 USDT. Until a clear breakout occurs with significant volume, traders should be cautious of further downward movement.
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