#BTC/USDT ANALYSIS
Bitcoin recently experienced a decline after breaking down from a symmetrical triangle pattern. Currently, it is trading above a crucial horizontal demand zone.
However, the Ichimoku cloud and the 100MA are acting as resistance barriers, keeping the price suppressed. The next significant support level is between the $52,000 to $50,000 range, where a potential bounce may be anticipated if the price action reaches this zone.
Traders are closely watching these levels to determine the next move in Bitcoin's price trajectory.
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