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Bitcoin is trading around $86,366 above the 21 SMA and within the downtrend channel formed since November 10.
After reaching a low of $80,000, Bitcoin made a strong technical rebound, reaching $88,000. However, we are now seeing a technical correction. BTC could return to $85,000 or even reach $83,500 in the coming days.
If Bitcoin breaks decisively above the 2/8 Murray, consolidates above this zone, and in turn breaks the downtrend channel, it could be seen as an opportunity to continue buying with a target at the 3/8 Murray located at $93,750. Finally, we expect it to reach the psychological level of $100,000.
On the other hand, if the bearish force prevails, a good zone to sell would be below 2/8 Murray, with targets at $85,300, and at the 1/8 Murray around $81,250.
The Eagle indicator is giving a positive signal. Therefore, any pullback, as long as the price trades above the psychological level of $80,000, will be seen as an opportunity to continue buying.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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