Bitcoin has faced rejection at the resistance trendline and is currently trading above the horizontal demand zone. The Ichimoku Cloud is acting as a resistance barrier above the price action.
If Bitcoin holds above the demand zone, we can anticipate a potential bounce. However, a breakdown below this level could lead to further market correction.
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#BTC/USDT ANALYSIS
Bitcoin has faced rejection at the resistance trendline and is currently trading above the horizontal demand zone. The Ichimoku Cloud is acting as a resistance barrier above the price action.
If Bitcoin holds above the demand zone, we can anticipate a potential bounce. However, a breakdown below this level could lead to further market correction.