Bitcoin is holding strong at $69,332.99, down only -0.90% from yesterday as consolidation continues. The charts are showing interesting developments—here’s your updated technical breakdown:
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📊 CURRENT MARKET SNAPSHOT
· Price: $69,332.99
· 24h High: $71,690.07
· 24h Low: $67,300.00
· Volume: 2.98B USDT | 43,173.72 BTC
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⚡ KEY TECHNICAL OBSERVATIONS
1. MACD SHOWS IMPROVING MOMENTUM
· DIF: 126.19
· DEA: 135.50
· MACD: -9.32 (Previously -16.41)
✅ The bearish momentum is weakening! The MACD histogram has improved significantly, suggesting selling pressure is decreasing.
2. PRACTION ACTION & CRITICAL LEVELS
· Immediate Support: $68,104 → $67,300 (MUST HOLD)
· Major Support Zone: $65,473 - $64,000
· Resistance Levels:
· $70,735 (Key breakout level)
· $71,751 (Recent high retest)
· $72,050 (Psychological barrier)
3. VOLUME ANALYSIS
· Current volume (85.82) below MA(5) at 452.09
· Indicates consolidation phase with reduced trading activity
· Breakout above $70,735 needs volume confirmation
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🎯 TRADING STRATEGY & ADVICE
FOR BULLS:
· Entry Signal: Wait for break and close above $70,735 with increasing volume
· Target: $71,751 → $72,050+
· Stop Loss: Below $68,104
FOR BEARS:
· Only if price breaks below $67,300 with volume
· Target: $65,473 → $64,000
· Stop Loss: Above $69,333
FOR SWING TRADERS:
· Current range: $67,300 - $70,735
· Trade bounces within range until clear breakout
· Risk management is CRUCIAL in this consolidation
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🚨 CRITICAL WATCH AREAS
1. $70,735 Breakout = Bullish continuation signal
2. $67,300 Breakdown = Potential deeper correction
3. MACD Crossover - Watch for DIF crossing above DEA for bullish confirmation
4. Volume Spike - Any sudden volume increase will determine next major move
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📈 MARKET SENTIMENT
The market is in a compression phase - typically precedes a significant move. With MACD improving and price holding above key support, the bias leans slightly bullish IF $68,104 holds.
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Set your alerts at $70,735 and $67,300 - the next big move is brewing!
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Remember: Always trade with a plan, use proper position sizing, and never invest what you can't afford to lose. The crypto market rewards the patient and punishes the reckless.
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