📊TECHNICAL ANALYSIS ON 2-HOURS TIMEFRAME
A short time ago price rebounded from the 27400 resistance level, which coincided with the resistance zone and made a strong downward impulse to the 25600 support level, and even soon declined more to the support zone, thereby breaking this level. In a short time price rose higher than the support level and then a few time tarded close, but later BTC declined lower of the 25600 level again to the trend line. Then Bitcoin rebounded from this line and made a strong impulse up to the 27400 resistance level. After it reached this level, the price at once bounced and fell to the trend line. As well soon BTC broke this line and at the moment it trades below. I expect that the price can make a movement up to the trend line and then continue to decline to the 25600 support level, which is located at my target.
📊QUICK FUNDAMENTAL LOOK
Over the past week, the crypto market displayed a sideways trend, influenced by various industry developments and macroeconomic factors. Bitcoin started trading at the $26,000 mark and briefly surged above $27,000. However, it faced resistance around the $27,500 level, leading to a subsequent downward movement.
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