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#BTC/USDT ANALYSIS
Bitcoin is facing rejection from the horizontal supply zone and the upper resistance trendline of the rising wedge pattern.
Notably, the price has now broken down from the wedge with strong volume, signaling increasing bearish pressure.
The 100 MA is currently acting as a key support around the $63K level, which could trigger a short-term bounce.
However, the overall structure suggests caution, as sustained weakness below this level may lead to further downside.
Keep a close watch on the upcoming price action for confirmation.