$BTC Analysis after Spot Bitcoin ETF Approval
- The white resistance zone has been flipped into support
- There is very strong resistance in the red resistance zone ($46,270 to $48,264)
- The light blue trendline is my strongest resistance target around 49.1k
- There has been a brief pump up to the light blue trendline and a strong rejection down that resulted in a long wick back down
- Bitcoin is currently trying to flip the lower end of the red resistance zone into support at $46,270
- There is very strong resistance in the red resistance zone ($46,270 to $48,264)
- The light blue trendline is my strongest resistance target around 49.1k
- There has been a brief pump up to the light blue trendline and a strong rejection down that resulted in a long wick back down
- Bitcoin is currently trying to flip the lower end of the red resistance zone into support at $46,270
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