"BTCUSDT: What's Next in This Volatile Trading Week?"
Updated
As the first trading day of the week unfolds, BTCUSDT continues its downward trend, currently standing at 41.178 USD, marking a near 1.08% drop for the day.
Technical analysis indicates that BTC has failed to break through the crucial resistance level at 43.600 USD. Moreover, the convergence of the EMA and the resistance zone at 42.000 USD further suggests a likelihood of a continued decline. If BTCUSDT breaks below the strong support level at 40.200 USD, we might witness a significant fall to the first anticipated profit-taking point for sellers around 37.700 USD, given the absence of any solid support to reverse the trend previously.
What are your thoughts, how will BTCUSDT move in the coming period?
Technical analysis indicates that BTC has failed to break through the crucial resistance level at 43.600 USD. Moreover, the convergence of the EMA and the resistance zone at 42.000 USD further suggests a likelihood of a continued decline. If BTCUSDT breaks below the strong support level at 40.200 USD, we might witness a significant fall to the first anticipated profit-taking point for sellers around 37.700 USD, given the absence of any solid support to reverse the trend previously.
What are your thoughts, how will BTCUSDT move in the coming period?
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