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The market is currently in a consolidation phase after rising from 60K.
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📈 Technical Analysis
General Trend
• Short-term trend: Slightly bullish
• Medium-term trend: Correction within a larger downtrend
Bitcoin rebounded from the 62,000$ area and is now trading above 70,000$, which gives some strength to buyers.
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🟢 Support Areas
The main areas from which the price may rebound:
1️⃣ 70,000
• Strong psychological support
• Breaking it may cause a rapid decline
2️⃣ 68,500
• Important technical support
3️⃣ 62,000$
• Very strong support (from where the last rise started)
🔴 Resistance Areas
The areas from which the price may reject the rise:
1️⃣ 72,000$
• Current market resistance
2️⃣ 74,000 – 75,000$
• Strong resistance since February
• Breaking it may open the way to 80K.
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📊 Technical Indicators
• RSI: Around 55 → Neutral leaning bullish
• MACD: Slightly positive
• Bollinger Bands: Price in the upper half (slight bullish momentum). $$BTC ##AltcoinSeasonTalkTwoYearLow #Bitcoin❗
📉 Expected Scenarios
Bullish Scenario 📈
If it breaks 75,000$
Targets:
• 78,000$
• 82,000$
• 88,000$
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Bearish Scenario 📉
If it breaks 70,000$
Targets:
• 68,500$
• 65,000$
• 62,000$BTC
🧠 Conclusion
• The market is currently neutral leaning bullish.
• 75K is the real key to the rise.
#JobsDataShock #USJobsData #IranSuccession • 70K is the defense line for buyers.
