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1. Breakout and Volatility Spike The chart shows a sudden price surge from around $0.50 to above $0.70, followed by a sharp retracement. This suggests a breakout with increased volatility. The rapid movement could be due to news, whale activity, or a liquidity event. 2. Support and Resistance Formation The price seems to have been consolidating between $0.40 and $0.50 before the breakout. After reaching the peak, the price retraced close to the $0.50 level, indicating that this area might act as a strong support if tested again. 3. Potential Bullish Momentum Despite the sharp pullback, the price remains above previous resistance levels. If buyers step in at the new support zone, another upward push could occur. However, if selling pressure continues, a deeper retracement to $0.45-$0.50 may follow. 4. Wick Rejections Indicate Selling Pressure The upper wicks on the recent candlesticks show that sellers are active around the $0.70 level. If price fails to reclaim this level, it may lead to a lower high and further decline. $ELX

$BTC USD is trading at a key demand zone, which has previously acted as strong support within the ascending channel. The recent retracement has brought the price back into this area, increasing the probability of a bullish reaction. The confluence of the support zone and the ascending trendline suggests that buyers may step in to regain control. If price confirms support within this zone, we could see a bullish continuation toward the $94,000 level, aligning with the channel’s midline and the next major resistance. However, a failure to hold this level could invalidate the bullish bias and signal a potential shift in momentum. Traders should monitor for bullish confirmation signals, such as rejection wicks, bullish engulfing patterns, or increasing buying volume, before considering long positions. A breakout above minor resistance levels along the way could further strengthen the bullish outlook. If you agree with this analysis or have additional insights, feel free to share your thoughts! 🚀 $BTC

$BTC was unable to break above the $83,800 resistance area and was rejected there. Following the decline, the price is now showing some recovery, but it needs to hold above $80,000; otherwise, we could see further downward movement. The resistance area remains the same, between $83,200 and $83,800.

Makes sense for $BTC to bounce there, key area with a golden pocket POC

November CME gap now filled completely, with price retesting the 200-day ma/ema cluster. Reasonable area for a bounce. #Bitcoin