VIP MARKET UPDATE: $BTC
BTCUSDT
Perp
67,964.4
+0.22%
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$BTC has now broken below the lower boundary of the ascending channel, and that is the main thing to focus on here. After spending weeks respecting that rising support, price finally lost it and dropped into the 66.3K area, which shifts the structure from a normal pullback into a clearer sign of weakness.
As long as BTC stays below that broken channel support, this move should be treated as a bearish break rather than just a dip inside structure. If sellers keep price under that area, downside pressure can remain in play, while the first step for bulls would be reclaiming that lost trendline to show the breakdown has failed.
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