BTCUSDT

Wait 5 sec.

BTCUSDTBitcoin / TetherUSBINANCE:BTCUSDTHAMED_AZHello Traders! 👋 What are your thoughts on Bitcoin ? After hitting the upper boundary of the ascending channel which overlapped with the major $82,000 resistance zone Bitcoin failed to break through and faced a sharp rejection. Following the rejection, Bitcoin gained downward momentum and successfully broke below its short-term ascending trendline, signaling a shift in market structure. The price has now paused at a minor horizontal support zone, which is temporarily slowing down the bearish momentum. From the current support level, we expect a minor bullish relief rally. This upward move will likely act as a pullback (retest) to the broken trendline and the newly formed resistance zone overhead. Once the pullback is completed and if sellers re-enter the market, the main downward wave should trigger. The ultimate target for this correction is the lower boundary (bottom) of the ascending channel around the $71,000 zone. If you found this analysis helpful, please support it with a like and share your thoughts in the comments! Good luck with your trades!❤️