The BTC/USDT 1-day chart shows the following key technical point
2024-10-10

Bitcoin is currently trading within a descending channel, which indicates a continuation of the bearish trend unless there is a breakout.
There is a crucial resistance area around the $66,000 to $70,000 range. BTC may struggle to break above this level without strong bullish momentum.
The chart shows a lower trendline acting as support, which is currently located around the $50,000 level. If BTC breaks below this level, it could lead to a more significant decline.

The purple line on the chart represents a moving average that has acted as both support and resistance in the past. BTC is currently trading below this moving average, indicating a bearish sentiment.

Disclaimer: This analysis is for informational purposes and is not financial advice. Always stay updated with market movements and adjust your trading strategies as needed.

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