BTC/USDT: Bearish Exhaustion at Key Support?BITCOIN / TETHER USDBITSO:BTCUSDTtec-net BTCUSDT Bitcoin has declined more than 12% from its recent highs around $82,749, reaching the $71,600 area, where two major technical support levels converge: 📍 Structural Support • Long-term ascending trendline (dynamic support) • Horizontal support zone at $71,000–$72,000, a key reference level from previous months 📉 Squeeze Momentum (SQZMOM) The indicator shows progressively shrinking red bars, suggesting that bearish momentum is weakening. Historically, this pattern often precedes trend reversals or technical rebounds. 📊 EMAs Price is trading below the 10, 55, 100, and 200 EMAs. The 100 EMA (~$70,470) is currently acting as additional dynamic support. No structural bullish confirmation exists until price reclaims the 10 EMA ($74,285) with a daily close above it. 🎯 Expected Scenario A technical rebound from the $71,000–$72,000 zone, with an initial target at $74,000–$75,000 (10 EMA / 55 EMA area). A daily close above $74,000 would strengthen the recovery thesis. ⚠️ Invalidation A breakdown and daily close below $70,500 would open the door to a move toward $68,000–$69,000. ───────────────────────────── ⚠️ This analysis represents a technical hypothesis only and does not constitute financial advice. Always use proper risk management.