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📈 Short-Term Analysis of BTC: Trends to Watch Out For
Currently, for Bitcoin ($BTC) to continue breaking upward, the prerequisite is to soon surpass the short-term downtrend line. The area of 123,000 USD has been established as an important peak. After a breakout and retest, the key factor lies in the depth of the correction: if the price does not adjust too harshly and quickly regains 120,500 USD today, buying pressure will be strengthened, creating confidence for the bulls.
In a negative scenario, only if BTC breaks below the support area of 118,000 – 119,000 USD will the reversal scenario be invalidated. Conversely, if the price holds this area and forms higher lows, the likelihood of attacking the old peak and creating a new high will increasingly rise.
In summary, the current phase is merely a technical correction. Maintaining strong support and gradually raising the bottom levels will be key to helping BTC continue its upward trend.