BTCUSDT up or down today!
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Bitcoin (BTC) is currently trading around $94,592, reflecting a slight recovery from the recent pullback. However, the price remains under pressure as it consolidates near the lower boundary of an ascending channel, forming a potential bearish pennant pattern.
The $96,195 resistance level remains a critical hurdle for BTC to regain upward momentum. A failure to break this resistance could result in further downside, with key support levels identified at $91,601 and ultimately at $89,089, where buyers may attempt to reassert control.
On the other hand, a breakout above $96,195 could signal renewed bullish momentum, potentially driving the price toward the upper range of the channel near $98,174. Traders should keep a close watch on the pennant structure and volume dynamics for confirmation of the next move.
With macroeconomic factors and market sentiment still in play, Bitcoin's price action is expected to remain volatile in the short term.
The $96,195 resistance level remains a critical hurdle for BTC to regain upward momentum. A failure to break this resistance could result in further downside, with key support levels identified at $91,601 and ultimately at $89,089, where buyers may attempt to reassert control.
On the other hand, a breakout above $96,195 could signal renewed bullish momentum, potentially driving the price toward the upper range of the channel near $98,174. Traders should keep a close watch on the pennant structure and volume dynamics for confirmation of the next move.
With macroeconomic factors and market sentiment still in play, Bitcoin's price action is expected to remain volatile in the short term.
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