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BTC Technical Update | Key Support Holding Strong
Bitcoin is currently showing strong respect to major higher-timeframe levels:
Weekly: Price is holding above the 200 EMA
Monthly: Price is respecting the 55 EMA
Both acting as strong support zones
This area has historically been a high-probability reversal zone.
After the recent correction from 126k, BTC is now consolidating near long-term support. If bulls defend this zone, we can expect a strong bounce and continuation of the macro uptrend.
Let’s see if Bitcoin makes it this time
Not financial advice. Do your own research.