$BTC Bitcoin Price Prediction As Supply Pressure at $35K Threatens for New Correction

Bitcoin Price Prediction: In the midst of a broader recovery across the cryptocurrency market, the BTC price has been spearheading the rally since the third week of October. Although the majority of major cryptocurrencies have generally benefited from this uplift, the Bitcoin price momentum appears to be stalling at the pivotal $35,000 level. This has led to questions about whether the current recovery has reached its limit.

Channel Pattern Leads Long-Term Uptrend!

1. The long-tail rejection candles at $35000 indicate the overhead supply is active.

2. A potential breakout from the channel pattern could trigger a directional rally.

3. The intraday trading volume in Bitcoin is $15.4 Billion, indicating a 27% loss.