BTCUSD *update*
Please observe indications of a potential reversal occurring around the 24/25k level. From a long-term perspective, my outlook remains bearish; however, in the mid-term, I anticipate a bullish trend. Anticipate price corrections occurring laterally at this juncture, prior to an eventual renewed attempt at an upward movement. It is important to note that a mere breach of the channel does not necessarily signify a shift in the dominant order flow. However, a period of sideways price movement would indeed convey such a change. Should the price surpass the 25k mark, it may be prudent to consider a downside target of roughly 17k.
In addition, it is important to observe a notable increase in volume at that particular area, as it would indicate a resurgence of interest at that level. The analysis provided thus far is solely based on price action, and a comprehensive assessment of the options front has not yet been conducted.
In addition, it is important to observe a notable increase in volume at that particular area, as it would indicate a resurgence of interest at that level. The analysis provided thus far is solely based on price action, and a comprehensive assessment of the options front has not yet been conducted.
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