BTCUSDT channel formation & rejection from resistance!!Join our community and start your crypto journey today for:
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Let's analyze BTCUSDT :
BTCUSDT is confined within a trading channel, historically respecting its upper and lower boundaries. Following a rejection at the strong $88.1k resistance, Bitcoin is expected to retest support at either $85.2k or $84.1k. A channel breakdown could lead to a drop towards $80.6k. For a bullish reversal, a daily close above $ 89K is crucial. This channel’s behavior will dictate BTC’s short-term trajectory, with support levels being key indicators.
Support Levels:
$85.2k
$84.1k
$80.6k
Resistance Level:
$88.1k
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