Bitcoin / TetherUS

Hello and greetings to dear companions!

This is an updated analysis of Bitcoin. Based on the discussions we've had and the previous analysis we conducted for the entire crypto market, we have observed that Bitcoin has reached the bottom of its daily channel after a severe decline! Now, we expect Bitcoin to reach the $105,000 range, similar to our previous analysis, and then either retrace or rise, which we can support with confirmation.

Our previous scenario remains intact, and our target range is still valid, as we have excellent daily liquidity. In terms of price analysis, $102,500 is the level that convinces buyers that Bitcoin is bullish, leading them to enter buy positions. Sellers, upon seeing this decline, are looking to exit, and we will likely see market consolidation around this level until we determine the winner of this confrontation.

I will elaborate on the analysis. Our current scenario is primarily based on ideal selling conditions.
In the specified range, we will exit the market and wait for the market to make its decision.
Based on this analysis, if our trend line breaks, we will swiftly take action to sell, as this serves as a very strong confirmation of the fake rally, and we will likely see further declines!
We are preparing to observe the market reaction at the price of $73,000 with confirmation and act to capture an excellent swing.

Key Points
Resistance (Daily): 102500
Support (Daily): 69388
Ideal Time to Sell with Confirmation: 105250 & 109588

Wishing you all success!
Fereydoon Bahrami
A retail trader in the Wall Street Trading Center (Forex)

Risk Disclosure:

Trading in the cryptocurrency market is risky due to high price volatility. This analysis is solely my personal opinion and should not be considered financial advice. Please do your own research. You are responsible for any profits or losses resulting from this analysis.