#BTCUSDT 8H
📉 Current Technical Analysis:
Bitcoin is testing below the 100MA, which is acting as a key resistance for the current price action.
The Ichimoku Cloud indicates bearish momentum, reinforcing the selling pressure after the breakout of the rising wedge pattern.
📊 Possible Scenarios:
Continuation of Correction: If the price remains below the 100MA and the Ichimoku Cloud continues to signal weakness, the market could face further declines.
Next Supports: Psychological Levels and Lower Moving Averages.
Break Above the 100MA: A break above the 100MA could invalidate the bearish trend in the short term, suggesting an upward move.
Next Resistances: Historical Pattern Analysis and Fibonacci Levels.
⚠️ What to Watch:
Volume: Confirmation of direction requires increasing volume.
Indicators: RSI and MACD can help confirm divergence or momentum continuation.
Summary: BTC is at a critical juncture. A break above the 100MA could spark optimism, but bearish pressure suggests caution.#Bitcoin#BTC#TechnicalAnalysis#CryptoTrading #Investments