#BTC/USDT Urgent Update!
### BTC/USDT Technical Analysis (1D)
**Overview:**
Bitcoin is trading below the 50, 100, and 200 EMAs, within a descending channel, indicating a bearish trend. A break above these EMAs could trigger bullish price action.
**Key Points:**
- **Resistance:** $61,802 (channel top), $60,364.
- **Support:** $54018, 47,710, $43,882.
- **Invalidation Level:** $54,018 (daily close below).
**Scenarios:**
1. **Bullish:** Break above EMAs and channel top could target $68,000.
2. **Bearish:** Failure to break above EMAs and a close below $54,018 may lead to a drop towards $47,710 or lower.
**Conclusion:**
I think the price must break soon in the next few weeks, likely following our scenario with the blue forecast lines. Watch for a breakout above the EMAs for bullish potential; otherwise, expect further downside within the channel.
Do let me know what you think in the comments section and please hit the like button.
Thank you
#PEACE
**Overview:**
Bitcoin is trading below the 50, 100, and 200 EMAs, within a descending channel, indicating a bearish trend. A break above these EMAs could trigger bullish price action.
**Key Points:**
- **Resistance:** $61,802 (channel top), $60,364.
- **Support:** $54018, 47,710, $43,882.
- **Invalidation Level:** $54,018 (daily close below).
**Scenarios:**
1. **Bullish:** Break above EMAs and channel top could target $68,000.
2. **Bearish:** Failure to break above EMAs and a close below $54,018 may lead to a drop towards $47,710 or lower.
**Conclusion:**
I think the price must break soon in the next few weeks, likely following our scenario with the blue forecast lines. Watch for a breakout above the EMAs for bullish potential; otherwise, expect further downside within the channel.
Do let me know what you think in the comments section and please hit the like button.
Thank you
#PEACE
Daily Signals:- telegram.me/thecryptorphic
Coincatch:- bit.ly/15000USDTBonus
Bingx:- bit.ly/4000USDTBonus
MEXC : bit.ly/get9100usdt
Binance: bit.ly/cryptorphic1000
ELITES: bit.ly/Join_elite
Coincatch:- bit.ly/15000USDTBonus
Bingx:- bit.ly/4000USDTBonus
MEXC : bit.ly/get9100usdt
Binance: bit.ly/cryptorphic1000
ELITES: bit.ly/Join_elite
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.