𝗕𝘂𝗹𝗹𝗶𝘀𝗵 𝗦𝗰𝗲𝗻𝗮𝗿𝗶𝗼 📈
If the price breaks above the 200 EMA at $5.329 and clears the immediate resistance levels, we could see a move towards the $6.00 and $7.00 levels. Sustained buying pressure and positive market sentiment could push the price towards the upper Fibonacci levels.
𝗕𝗲𝗮𝗿𝗶𝘀𝗵 𝗦𝗰𝗲𝗻𝗮𝗿𝗶𝗼 📉
If the price fails to break above the 200 EMA and descends...
Analysis and Outlook
The BTC/USDT chart reflects a strong bearish trend. The price has been consistently making lower highs and lower lows, confined within a descending channel. The failure to hold above the 0.618 Fibonacci retracement level indicates potential further downside.
BINANCE:BTCUSDT
Bearish Scenario
BTC fails to hold the 0.618 Fibonacci...
