Key Observations:2

Key Observations:

1. Descending Channel Formation:

   • The price has been moving inside a falling wedge (downward-sloping channel), marked by two black trend lines.

   • This suggests a bearish structure, but such patterns often result in bullish breakouts when resistance is broken.

2. Support and Resistance Zones:

   • Resistance Zone (~83,600 - 84,000 USDT)

     • The price is currently testing the upper boundary of the descending channel.

     • This area has acted as strong resistance multiple times.

   • Support Zones (~78,000 USDT & ~73,500 USDT)

     • The lower support levels have been respected multiple times, making them critical in case of a rejection.

3. Breakout Indication:

   • Unlike the previous chart (which suggested a potential drop), this one now indicates a breakout scenario.

   • A black curved line is drawn, suggesting an upward movement above the descending trendline.

   • If BTC breaks and holds above this resistance, it could signal a trend reversal toward a bullish scenario.

4. Potential Price Targets:

   • The breakout could lead BTC to test 86,000 - 88,000 USDT (next resistance zone).

   • If momentum continues, BTC might even push toward 92,000+ USDT.

5. Current Market Position:

   • The price is trading at 83,600.1 USDT, just below the resistance zone.

   • Bulls need to confirm the breakout by holding above the descending trendline.

Conclusion:

• Bullish Scenario:

  • A successful breakout above 84,000 USDT could push BTC toward 86,000 - 88,000 USDT and beyond.

  • This would indicate a shift in trend from bearish to bullish.

• Bearish Rejection:

  • If BTC fails to break out, a rejection could bring the price back to 80,000 USDT and possibly lower to 73,500 USDT.

• Key Levels to Watch:

  • Breakout Level: ~84,000 USDT

  • Target Levels: ~86,000 USDT → ~88,000 USDT → ~92,000 USDT

  • Support Levels: ~78,000 USDT → ~73,500 USDT

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