#BTC/USDT Urgent Update!
### BTC/USDT Technical Analysis (1D)
**Overview:**
Bitcoin is trading below the 50, 100, and 200 EMAs, within a descending channel, indicating a bearish trend. A break above these EMAs could trigger bullish price action.
**Key Points:**
- **Resistance:** $61,802 (channel top), $60,364.
- **Support:** $54018, 47,710, $43,882.
- **Invalidation Level:** $54,018 (daily close below).
**Scenarios:**
1. **Bullish:** Break above EMAs and channel top could target $68,000.
2. **Bearish:** Failure to break above EMAs and a close below $54,018 may lead to a drop towards $47,710 or lower.
**Conclusion:**
I think the price must break soon in the next few weeks, likely following our scenario with the blue forecast lines. Watch for a breakout above the EMAs for bullish potential; otherwise, expect further downside within the channel.
Do let me know what you think in the comments section and please hit the like button.
Thank you
#PEACE
**Overview:**
Bitcoin is trading below the 50, 100, and 200 EMAs, within a descending channel, indicating a bearish trend. A break above these EMAs could trigger bullish price action.
**Key Points:**
- **Resistance:** $61,802 (channel top), $60,364.
- **Support:** $54018, 47,710, $43,882.
- **Invalidation Level:** $54,018 (daily close below).
**Scenarios:**
1. **Bullish:** Break above EMAs and channel top could target $68,000.
2. **Bearish:** Failure to break above EMAs and a close below $54,018 may lead to a drop towards $47,710 or lower.
**Conclusion:**
I think the price must break soon in the next few weeks, likely following our scenario with the blue forecast lines. Watch for a breakout above the EMAs for bullish potential; otherwise, expect further downside within the channel.
Do let me know what you think in the comments section and please hit the like button.
Thank you
#PEACE
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