#BTC/USDT ANALYSIS



Bitcoin has broken below the ascending channel and is now trading above the 50MA, which is acting as immediate support.

A breakdown below the 50MA would confirm further downside in the market.

However, if price continues to hold above the 50MA, a rebound and upward rally remain possible.

$BTC
BTC-1.09%
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NAYRI
· 1h ago
good
Reply0
PerpPessimist
· 3h ago
Waiting for a breakout with increased volume, now it's too uncomfortable with the decreasing volume.
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LiquidityLullaby
· 3h ago
The channel has broken but the support hasn't broken, oscillating markets are the most torturous.
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GateUser-34d2b0ab
· 3h ago
Technical analysts are ecstatic; this chart is truly well-drawn.
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GateUser-c1cab702
· 4h ago
Old chives say this kind of position is the easiest to be shaken out.
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ProofOfSnack
· 4h ago
Opening a short position here is nerve-wracking.
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NarrativeCartographer
· 4h ago
The 50 MA has become the dividing line between bulls and bears; stay focused.
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CliffsideAncientPineAndRolling
· 4h ago
The upward pressure is also significant; it's hard to say how far the rebound can go.
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GoldfishOnIce
· 4h ago
As long as the 50MA holds, there's still hope; if it falls below, it probably will be over.
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