#BTC QUICK UPDATE: Support Zone In Focus!
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BTC is currently testing support around the $66,500 level. This area coincides with the 100-day moving average (100MA), which can act as a support or resistance level.
Two potential scenarios emerge:
Scenario 1: Support Holds: If the price finds support at the current level and bounces back above the 100MA, we could see a move towards $68,000-$70,000 in the near future.
Scenario 2: Support Breaks: If the price breaks below the $66,500 level and closes decisively under the 100MA, further downside towards $64,000 becomes more likely.
Important to Remember:
What are your thoughts?
Share your analysis and any questions you have in the comments below!
BTC is currently testing support around the $66,500 level. This area coincides with the 100-day moving average (100MA), which can act as a support or resistance level.
Two potential scenarios emerge:
Scenario 1: Support Holds: If the price finds support at the current level and bounces back above the 100MA, we could see a move towards $68,000-$70,000 in the near future.
Scenario 2: Support Breaks: If the price breaks below the $66,500 level and closes decisively under the 100MA, further downside towards $64,000 becomes more likely.
Important to Remember:
What are your thoughts?
Share your analysis and any questions you have in the comments below!
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