$BTC - Deep Correction in Course
The price of BTC has broken the previous bullish structure, confirming a correction phase. We observe that the price has crossed below the Exponential Moving Averages (EMAs), which now act as dynamic resistance.
The MACD has confirmed a bearish crossover and is expanding its histogram in negative territory, indicating strong selling momentum.
The main short-term support level is in the zone of 106,360. The inability to recover the level of 107,648 and the EMAs will maintain the bearish pressure.
Conclusion: A bearish bias is favored as long as the price remains below the lost consolidation zone.
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