BTC Update

BTC is now trading in a downtrend channel on smaller time frames. BTC need to break this downtrend channel and stable above $36,100 to turn bullish. BTC is now at support of $34,000 area and a break below this will again lead us to $33,000 area. BTC is trading in the range of $30,000 to $40,000 and need to break $42,000 and hold above it for a good rally. A break below $30,000 will turn the market bearish and we may see mid-term bear market. No need to worry until BTC trading above $30,000. Also there are big buyers waiting around $30,000 area. We will see more consolidation in this range before a breakout.
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