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Bitcoin Faces Critical Turnaround Point Amid Uncertain Near-Term Direction
The fact that I predicted this movement on Tuesday yet was still caught off guard by how quickly it unfolded in just four hours is noteworthy. Currently, Bitcoin is experiencing a "dead" rebound that could extend up to the range of 103,600 to 104,000, but beyond that, the market's direction remains unpredictable. Either the market will be satisfied with the "blood" and push the price back above 105,000, or this is only the beginning, and after the rebound, BTC could decline further to around 96,000. The weekly candle formation suggests a potential continuation of the downtrend.
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AI Analysis
The recent price action in Bitcoin indicates a volatile period where rapid shifts are occurring within hours. The current rebound, described as a 'dead' cat bounce, suggests that the market may be tes...
AI Recommendation
Given the current market situation, it is advisable to adopt a cautious stance. Investors should wait for confirmation of either a breakout above resistance levels around 104,000 to 105,000 or a break...
Disclaimer
The AI analysis and recommendations provided are for informational purposes only. Any investment decisions should be made at your own risk. Past performance is not indicative of future results. Always conduct your own research and consider consulting with a financial advisor before making any investment decisions.
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