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---$BTC

🚨 Bitcoin Price Analysis - BTC/USDT 🚨
Current Price: $55,865.59 (-0.56%)
🔍 Market Overview:
Bitcoin is currently trading within a descending channel on the daily timeframe, with a recent decline bringing the price closer to a critical demand zone and Fair Value Gap (FVG) around the $50,000 - $52,000 range. This zone could provide a significant support level, potentially triggering a reversal or a consolidation phase.
📉 Key Observations:
- Descending Channel: Bitcoin remains in a downward-sloping channel since May, facing resistance at higher levels.
- Demand Zone & FVG: The blue area represents a potential support region where buyers could step in, based on previous price action.
- Volume Analysis: Volume seems to be declining, indicating a potential slowdown in the selling momentum.
📊 Levels to Watch:
- Resistance Zones:
- Minor resistance at $57,000 - $60,000
- Major resistance around $65,000
- Support Zones:
- Immediate support around $55,000
- Strong demand zone between $50,000 - $52,000
🚀 What's Next?
If Bitcoin finds support in the demand zone, we could see a bounce back towards the upper trendline of the channel, targeting levels around $60,000. However, a breakdown below the $50,000 mark might signal a deeper correction.
💬 Stay Informed:
Stay with me
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