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Bitcoin is preparing to rise again

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BTCUSD

البيتكوين

Bitcoin is moving in an upward trend in the medium term and has encountered selling pressure at the $90000 level. It is likely to retest the support level at $82200.

Support

82200 76850 72730
Resistance 90000 90500

100000

Bitcoin recently experienced a notable decline, reflecting increased volatility and cautious sentiment among investors. This pullback from recent highs has triggered a technical adjustment in Bitcoin’s medium-term trend. The selling pressure observed around the $90000 level highlighted a resistance point, with prices subsequently dropping and approaching the support area near $82200.

Despite this drop, Bitcoin maintains a generally upward trajectory in the medium term. The recent correction could serve as a consolidation phase, potentially allowing for renewed momentum should buyers step in near established support zones. If Bitcoin stabilizes around current levels, there’s a possibility of an upward reversal, targeting previous resistance points. However, further declines below key support levels, like $82200, may signal a prolonged correction. Traders and investors are now closely monitoring these critical levels to assess Bitcoin’s next move in response to market sentiment and macroeconomic factors.

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