$BTC analysis
1Hour Time frame
The technical analysis for the long-term outlook for BTCUSD is bullish, as it is trading within an ascending parallel channel. However, the short-term outlook is bearish, as the pair is trading within a corrective bearish trend.
The main detail to watch is the key level at 29,320. If BTCUSD breaks below this level, it could drop towards the strong support level at 28,810. However, if BTCUSD is able to hold above 28,810, it could rebound and continue its long-term bullish trend.
I would recommend looking for buying opportunities as long as BTCUSD is trading above 28,810. However, it is important to remember that the cryptocurrency market is volatile and unpredictable, so it is important to do your own research before making any investment decision.
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