🚨 Bitcoin Alert: MtGox Funds Move – Will Support Hold? 🚨
As the MtGox address stages funds, Bitcoin's price faces critical support tests. Key areas to watch are the 50EMA on the daily timeframe. Failure to hold these levels could lead to significant downside pressure.
🔍 Key Points:
Current Price Levels: Bitcoin trading around $67,987.26.
50EMA Support: Monitor the daily 50EMA for immediate support.
Volume Profile: Significant support around $61,597.74, with value areas at $60,419.53.
RSI Levels: Watch RSI for potential oversold conditions; current levels around 51.04.
⚠️ Implications:
Support Holds: Potential for a rebound and continuation of the uptrend.
Support Fails: Increased likelihood of a steep decline, leading to lower price targets.
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