๐ช#BTC๐Bitcoin continues to steadily decline from the upper boundary of the descending channel. It is now fully testing the support zone at the intersection with the 4-hour MA50 and the Ichimoku Cloud.
๐It's worth noting that the price has corrected to the 50% Fibonacci level, with the 61.8% level around 60K. If it fails to break below, then the squeeze towards the upper boundary of the channel may be accompanied by a breakout and further rise to 67K, and then to 71K according to Fibonacci levels.
๐โ ๏ธ Only in the event of a breakout and return below 60K should we expect a continuation of the movement within the descending channel.
โญ๏ธSome uncertainty remains, so it's better to wait for confirmations before opening trades. For now, I'm only working with my personal short-term expectations.
Bitcoin dominance: 54.62%;
Fear and Greed Index: 55 (Greed);
Altcoin Season Index: 41;
Market Capitalization: $2.21 trillion.
Your reactions = Interest
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