#bitcoin

Bitcoin is currently trading near the level of 71,600$ after a brief downward movement in the last few hours. The chart shows clear selling pressure after the price failed to hold above the area of $71,800, which led to a rapid decline towards 71,560$ before the price attempted to stabilize again.

Currently, the market is moving within a narrow range, indicating a temporary balance phase between buyers and sellers. If the price can maintain the current support, we may see an upward attempt to test the area of 72,000$ again.

However, if the near support is broken, the correction could extend towards 71,300$ and perhaps 71,000$ before any strong rebound.

🔎 Summary:

The market is in a short accumulation phase after the drop, and the upcoming direction will be determined by breaking 72,000$ upwards or 71,500$ downwards.

⚠️ This analysis is based on the current price movement and is not investment advice.

Will we see a breakout to 100 thousand dollars again or not?

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