Bitcoin has held support at $78,600; the short-term outlook for Bitcoin remains positive as long as it trades above this level. If support is broken, particularly amid negative economic news, the next support level is the blue rectangle range of $76,300–$77,300. A sell wall has formed at the current peak, but it is weaker than the buy wall below the price, so the short-term bias remains positive for now. For clarity, this analysis applies solely to short-term trading; to confirm a bottom and the end of the downtrend, a daily close above $83,000 is required.
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