Bitcoin will recover in the short term
Bitcoin sharply dropped to the identified support level and the bottom of the drawn channel after breaking the $94,000 support zone.
In this area, we expect a bounce toward the next resistance level an the top of the channel.
After reaching this resistance, price action should be closely monitored to determine whether Bitcoin can break above or face rejection.
A short-term recovery is likely, but the key decision point will be at the resistance level, where we need to assess the strength of the bullish move.
In this area, we expect a bounce toward the next resistance level an the top of the channel.
After reaching this resistance, price action should be closely monitored to determine whether Bitcoin can break above or face rejection.
A short-term recovery is likely, but the key decision point will be at the resistance level, where we need to assess the strength of the bullish move.
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