🔍 Analyzing the Current BTC Situation 🔍
Here are the potential scenarios for Bitcoin ($BTC
):
1. 📉 Breaking the $66,750 Area:
- If BTC breaks this level, it could fall back to the $66,300 area, a crucial support zone.
2. 🔄 Possible Correction:
- With upcoming news about home sales in America, a negative outlook for the dollar might boost BTC. A correction may be necessary.
3. 📈 Bounce from the $65,750 Area:
- This strong support zone in the uptrend is tough to break. RSI 4H is showing support around 50.00, indicating a potential bounce.
4. 🕵️♂️ Daily Monitoring (1D):
- The RSI indicator on the daily chart shows some negativity at 61.30. Exercise caution and wait for more market clarity.
5. 📊 Positive News on Ethereum Spot ETFs:
- While positive news on Ethereum Spot ETFs could influence the market, its impact on BTC must be monitored.
6. 🔔 Key Support Area $65,400:
- This area is the best buying zone so far. If broken, update your analysis accordingly.
📉 Monitor These Levels:
- Stay informed with economic news to make informed trading decisions.
