BTCUSDT: Preparing for another correction
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Overall, the price has undergone a significant increase since successfully bouncing off the support level of $15,605. Currently, it is trading at a new high of $63,585, showing a bullish trend and testing the highest resistance level at $67,000-$69,000, marking a 0.75% increase for the day.
In the short term, surpassing the mentioned resistance level will create an opportunity for price appreciation for this coin. On the other hand, maintaining below this level will lead to the price searching for lower support levels at $50,000 - $40,000. It is expected that the price will correct and retest the EMA 34.89 levels
Overall, the price has undergone a significant increase since successfully bouncing off the support level of $15,605. Currently, it is trading at a new high of $63,585, showing a bullish trend and testing the highest resistance level at $67,000-$69,000, marking a 0.75% increase for the day.
In the short term, surpassing the mentioned resistance level will create an opportunity for price appreciation for this coin. On the other hand, maintaining below this level will lead to the price searching for lower support levels at $50,000 - $40,000. It is expected that the price will correct and retest the EMA 34.89 levels
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