These are important zones and trendlines on the BTC chart. Bitcoin is currently within an ascending channel and is moving towards the bottom of this channel. The Liquidation Heatmap chart highlights a significant liquidity zone just below the $65910 level. BTC is likely to target this liquidity, potentially driving the price downward to capture this value. This movement aligns with the ongoing trend within the channel.
There is a crucial support spot at the bottom of the channel, just beneath the identified liquidity zone. This support level is expected to provide significant buying interest, potentially stabilizing the price and preventing further decline. Traders should watch this area closely, as it could be a pivotal point for BTC, either halting the current downtrend or providing a bounce-back opportunity within the ascending channel.
There is a crucial support spot at the bottom of the channel, just beneath the identified liquidity zone. This support level is expected to provide significant buying interest, potentially stabilizing the price and preventing further decline. Traders should watch this area closely, as it could be a pivotal point for BTC, either halting the current downtrend or providing a bounce-back opportunity within the ascending channel.
Comment:
Bitcoin touched the bottom of the ascending channel, although not with the speed we initially expected. This slower descent suggests a potential for consolidation at this level before the next significant move. Keep an eye on the price action around this support zone for any signs of a bounce or further decline. Let's stay vigilant and adjust our strategies accordingly!
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