๐ BTC/USDT Technical Analysis โ Is a Rebound Coming?$BTC
๐ Bitcoin is currently trading around $99,386, after a significant drop from the recent high of $111,980, approaching a key support zone.
๐ Chart Highlights:
๐บ Previous peak at $111,980 (distribution zone).
๐ป Bearish break below the $105,609 support area.
๐ Price is testing the range between $99,000 - $98,500, which could act as a short-term demand zone.
๐ Average Entry Price shown on chart: $108,782.59
๐ Next Scenario (Based on SMC & Price Action):
If price holds above $98,500, we may see a bullish reaction toward $103,000 or higher.
A clean break below could send BTC toward $89,000, a historically strong support.
๐ Trade Idea:
๐ก Watch closely for bullish confirmation (e.g., bullish engulfing candle or reversal pattern) to consider a short-term long position from current support.
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๐ข What's Your Outlook?
Do you expect a rebound or further downside toward $89,000?
Drop your thoughts in the comments! ๐๐ฅ
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