BTC is trading at $61,500, nearing a critical support level at $60,000. We have a rising trendline, the 200 EMA, and the lower trendline of this expanding triangle also acting as support.
After 7 consecutive days of outflows in Bitcoin ETFs, yesterday saw $31 million in inflows, which is positive for bulls.
In the long term, I am bullish on BTC. We may see some short-term corrections in price, potentially down to $54,000 in the worst case, but that will be the best time to buy BTC.
The funding rate is negative at -0.11%, which is a positive sign for bulls.
If #Bitcoin crosses this 65k level, then that will liquidate $900 million worth of short-position liquidation.
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In the 1-hour timeframe, the Bitcoin breakout from the symmetrical triangle looks like it's ready to go long! 🚀
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🚀 Bitcoin Analysis 🚀
The monthly chart shows a significant breakout and retest of the previous all-time highs! 📈
Current Price: $62,623.94 Potential upside targets in the channel: $190,000📊
Historical trend suggests strong upward momentum following retests. Are we gearing up for another major rally? 🌕
#Bitcoin #Crypto
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🚨 BTC Update 🚨
BTC has experienced a drop and is currently holding steady above the $57,900–$56,500 support zone.
🔍 The daily candle closing is crucial here, so keep an eye on it.
BTC needs to hold this support to move forward. If BTC closes a daily candle below the $56,500 support, it will be a warning sign for us.
Stay tuned and monitor the daily candle close!
#Bitcoin #Crypto
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🚨 #Bitcoin Alert 🚨
Bitcoin has broken a crucial support level of around $56,500, now heading towards $54,400. 📉 A further drop might be imminent if it doesn't reclaim this support soon.
BTC needs to hold this important support level to avoid more downside pressure.