Bitcoin is currently facing rejection from an important horizontal supply zone while being traded within an ascending channel. The 21-day moving average is aligning with the channel's support trendline, providing a strong support base.
A breakout above the supply zone would confirm the continuation of the uptrend. However, a breakout below the channel support could lead to an even greater decline — monitor the price action closely.
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#BTCUSDT 4H
Bitcoin is currently facing rejection from an important horizontal supply zone while being traded within an ascending channel. The 21-day moving average is aligning with the channel's support trendline, providing a strong support base.
A breakout above the supply zone would confirm the continuation of the uptrend. However, a breakout below the channel support could lead to an even greater decline — monitor the price action closely.