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Bitcoin is trading around $95,472 within a secondary downtrend channel formed since January 14 after encountering strong rejection around $98,000.
Bitcoin could continue to fall in the coming hours until it reaches the key 3/8 Murray support located at $93,750.
If Bitcoin consolidates above the 21 SMA located around $95,000, it will be seen as an opportunity to open long positions, with targets at $96,800, $98,000, and finally at the 4/8 Murray around the psychological level of $100,000.
If the price falls below the 21 SMA, we could expect a technical correction, and Bitcoin could reach the bottom of the uptrend channel located at $92,500 and could even find good support around the 200 EMA located at $91,300.
The Eagle indicator is showing a positive signal, so it is likely that Bitcoin will continue to rise in the coming days and could reach the psychological level of $100,000.
Our trading plan for the next few hours is to buy Bitcoin above $95,000, with targets at 98,000 and $100,000.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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