💡 Ideas For #BTCUSD 🪙$BTC
📈 Market stagnation. Bearish trend
BTC is stagnating, forming a symmetrical triangle within a global flat pattern that has formed as part of a global downtrend. There is still no fundamental support for the crypto market
Bitcoin has attempted to act as a hedge in the current tense geopolitical and economic situation, but all attempts at growth are being aggressively sold off.
A trend line is forming, and the market is not allowing the price to reach intermediate key areas of interest, which indicates the presence of bearish pressure. Bitcoin is in a global downtrend. Focus on the current range of 69,185 - 71,100. The market may test 70100 - 71000 before falling within the main figure (to 67K).
Resistance levels: 7010, 71000, 72000
Support levels: 69180, 66270
The reaction to the 69200 support is weakening, and the bulls may not be able to withstand market pressure. A close below 69185 could trigger distribution within the main bearish trend. Before that, a short squeeze of 70100 - 71060 is possible. However, the structure will be broken if Bitcoin manages to break through 72K and consolidate above this zone