Bitcoin Bounces Back, Retest Incoming!

$BTC bounced off the $49K level, which was higher than our anticipated support at $48.4K. I overlooked the support level in that area!

What should we expect next? It seems Bitcoin is heading for a retest of our previous range, coinciding with the 200MA and a potential fill of the $61.2K - $58.2K gap. We need strong momentum to reverse the trend once we reach these levels, otherwise, bears might maintain control.

Personally, I've invested in alts like ONDO, WIF, FET, ICP, NEAR, PEPE, KAS, MEME, and TON. These tokens have strong narratives in this market and tend to outperform large-cap coins.

Key Resistance Levels:
$59.4k (200MA) (Time of posting)
$59.1k (Last range support which acts as a resistance now)
$58.2k - $61.2k (FVG)

These are potential areas where Bitcoin could face rejection or be swept through before continuing its downtrend. As mentioned, we need significant volume and momentum to reverse the bearish sentiment.


$BTC

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