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Bitcoin Price Weakness Signals Potential Correction
The overlap of the middle line of the channel and the support zone, which suggested a potential reaction, has been broken. Currently, there is a visible weakness in the trend, and unless the daily candle closes above 107120, the conditions favor a correction. The bottom of the pattern at around 99500 remains a compelling support area, which has been unbroken previously. The weekly candle will close in two days. For now, it is prudent to observe the market.
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AI Analysis
The recent breakdown of the critical support zone and the middle line of the channel indicates a potential shift in market sentiment towards weakness. When key technical levels like support and channe...
AI Recommendation
Given the current technical signals, it is advisable to avoid entering new long positions until confirmation of a reversal or a clear bullish signal appears. Traders can consider maintaining protectiv...
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.