📊#BTC Extended Wedge?
🧠From a structural perspective, we still haven't seen a strong breakout. It hasn't even reached the resistance zone around 73600 that I'm watching. We've attempted to break upwards three times without success, indicating market weakness. If the market price can't stabilize above 72200 today, then we need to be wary of the risk of a sharp drop!
➡️The support around 70600 has acted as support three times. If the price comes back here, I think its effectiveness as support will be greatly reduced. The support around 70000 might be more effective. The more noteworthy support zone is around 67600, with extreme support around 65600!
➡️From a model perspective, there's a chance of an extended wedge forming here. This model is in a resistance zone, so we need to be wary of a potential decline.
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BTCUSDT
Διην.
70,975.4
-0.89%