Bitcoin Analysis

Hello Traders! 👋

What are your thoughts on Bitcoin ?
After hitting the upper boundary of the ascending channel which overlapped with the major $82,000 resistance zone Bitcoin failed to break through and faced a sharp rejection.
Following the rejection, Bitcoin gained downward momentum and successfully broke below its short-term ascending trendline, signaling a shift in market structure.
The price has now paused at a minor horizontal support zone, which is temporarily slowing down the bearish momentum.
From the current support level, we expect a minor bullish relief rally. This upward move will likely act as a pullback (retest) to the broken trendline and the newly formed resistance zone overhead.
Once the pullback is completed and if sellers re-enter the market, the main downward wave should trigger. The ultimate target for this correction is the lower boundary (bottom) of the ascending channel around the $71,000 zone.

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