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$BTC Update
Bitcoin is currently sitting at a very important support area after losing the short-term rising trendline. Right now, price is trying to hold the 79.4K zone, but the structure is starting to weaken as BTC struggles to reclaim higher levels.
The recent move below support and quick recovery created a possible fake breakdown, but bulls still need to prove strength here. As long as Bitcoin stays below the broken trendline, downside pressure remains on the table.
For me, the key level to watch is 79.4K. If BTC starts closing below this area and accepts under it, we could see a deeper correction after this strong rally. That would likely shift momentum in favor of the bears in the short term.
This is one of those zones where the next move can start fast, so keep a close eye on the reaction here. 👀
DYOR, NFA
#Bitcoin