$BTC Market Update 🚨
Bitcoin is currently undergoing a decisive test of a major ascending support line, a level that will critically define its medium-term trajectory.
The price is interacting with the long-term trendline that has underpinned the bullish structure for over a year. This line represents the primary support for the current market cycle. Simultaneously, the asset is trading within a significant demand zone, historically where strong buying interest has emerged. The structure shows a clear sequence of lower highs, indicating short-term selling pressure, but the approach to this historic confluence of trendline and horizontal support presents a high-probability area for a potential reversal or, at minimum, a robust consolidation.
A firm bullish rejection from this zone, evidenced by a strong candle closing above the immediate resistance near $94,500, would signal that the foundational uptrend remains intact and could catalyze a move to reclaim recent highs. Conversely, a decisive and sustained breakdown below this confluence would represent a significant shift in market structure, likely triggering a deeper and more prolonged corrective phase.
Entry: 92k - 92,500
Tp1: 92,800
Tp2: 92,900
Tp3: 93,000
DCA: 91,500
SL: 91k
This is a critical inflection point. The confluence of the macro trendline and historical demand zone offers a high-conviction area for market makers and institutions. However, confirmation is non-negotiable. The ideal entry follows a clear, volume-supported sign of buyer capitulation at support. Patience is paramount; entering on the first touch without confirmation carries substantial risk. Manage risk meticulously, as a break of this primary trendline would invalidate the core bullish premise and necessitate a reevaluation.
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