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BTC/USD is currently holding strong above the EMA200, which is a key indicator of support. If the current support level continues to hold, we could see a significant move up towards the $66K resistance. However, if the support fails, we may see a retest of the $60K support zone before any potential recovery.
Interestingly, the Stochastic RSI on the 4-hour chart is signaling that the market is in an oversold condition, which increases the likelihood of a bounce back in the near term. The next few moves are crucial—keep an eye on these levels and manage your risk carefully.
#Bitcoin #BTC #CryptoTrading #TechnicalAnalysis #CryptoUpdate
BTC/USD is currently holding strong above the EMA200, which is a key indicator of support. If the current support level continues to hold, we could see a significant move up towards the $66K resistance. However, if the support fails, we may see a retest of the $60K support zone before any potential recovery.
Interestingly, the Stochastic RSI on the 4-hour chart is signaling that the market is in an oversold condition, which increases the likelihood of a bounce back in the near term. The next few moves are crucial—keep an eye on these levels and manage your risk carefully.
#Bitcoin #BTC #CryptoTrading #TechnicalAnalysis #CryptoUpdate
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