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$BTC
The price is currently undergoing a downward correction phase after reaching a local high at $80,635.
Moving Averages (MA): The price is now trading below the MA(7) and MA(25), indicating very short-term selling pressure. However, the price is still above the MA(99) (purple line), which represents strong support at levels of 78,147.....
Goals and Levels
First: In case the correction continues (the short-term negative scenario).
If the price breaks below 78,700 with a 15-minute candle close, we may see a visit to the following levels.
78,147 - 78,080: Very strong support zone (confluence of MA(99) with a previous low)
77,211: Distant support level in case of increased downward momentum.
Second: In case of rebound (the positive scenario)....
To stop the current bleeding, the price needs to surpass the nearby moving averages, with the targets as follows""""
79,228: Surpassing this level (yellow and pink averages) restores short-term positivity...
80,050: An intermediate target and psychological resistance...
80,635: The previous high, and breaking it opens the way for new record levels;::,:
#GateSquareMayTradingShare