BTC Trend Analysis & Recommendations 💪💫🚀
Key levels ahead as bearish momentum grows
Bitcoin faced rejection on Friday at a critical descending trendline, drawn from multiple highs since early October. That rejection, combined with the 61.8% Fibonacci retracement level at 94,253, triggered a nearly 785,569.
As of Tuesday, BTC is trading around 86,100, maintaining pressure near key support.
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🔍 Key Technical Highlights:
- Resistance zone:94,253 (61.8% Fib level from April low of 74,508 to ATH126,199)
- Immediate support: 85,569
- Break below85,569? Watch for downside toward 80,000 (psychological level)
- RSI: 36 — bearish momentum increasing (below neutral 50)
- MACD: Death cross formed Tuesday, confirming downside pressure
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📈 Bullish Scenario?
If Bitcoin can rebound strongly from current support and reclaim 90,000+, it may invalidate the bearish structure and retest the trendline resistance.
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🔽 Bearish Scenario?
A daily close below 85,569 (which aligns with the 78.680,000** as the next likely stop.
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⚠️ Final Take:
The trend is weak, and momentum indicators suggest further downside. However, a strong bounce from here could flip sentiment quickly.
[12/17, 12:24 PM] ChatGPT: Trade with caution. Watch key levels. Manage risk.
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