#BTC/USDT Urgent Update!

2 Eyl

### BTC/USDT Technical Analysis (1D)

**Overview:**
Bitcoin is trading below the 50, 100, and 200 EMAs, within a descending channel, indicating a bearish trend. A break above these EMAs could trigger bullish price action.

**Key Points:**

- **Resistance:** $61,802 (channel top), $60,364.
- **Support:** $54018, 47,710, $43,882.
- **Invalidation Level:** $54,018 (daily close below).

**Scenarios:**
1. **Bullish:** Break above EMAs and channel top could target $68,000.
2. **Bearish:** Failure to break above EMAs and a close below $54,018 may lead to a drop towards $47,710 or lower.

**Conclusion:**
I think the price must break soon in the next few weeks, likely following our scenario with the blue forecast lines. Watch for a breakout above the EMAs for bullish potential; otherwise, expect further downside within the channel.

Do let me know what you think in the comments section and please hit the like button.

Thank you

#PEACE