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Welcome to this BTC/USDT update. In my previous BTC update, I told you that if BTC does not hold 100D MA (42K) then be ready for 38k-39K so everything goes as planned so far.
So what I'm expecting now?
As you see in the chart, BTC is trading inside a rising channel and currently sitting at the lower level of the channel. In the past scenarios, we have seen BTC bounce many times after hitting the lower level of this channel. So I'm expecting a bounce in the market from this level and making another Higher low.
If any daily candle closes below this channel then this scenario becomes invalidated.