Bitcoin Faces Resistance at $36K, Could See Battle at $34K Support
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Bitcoin faced resistance at $36,000 and has retreated, with buy liquidity declining to around $34,000. Sellers are becoming active on intraday charts.
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If sellers push lower, $34,000 could be an important battleground. Upside levels to watch are $35,000 and $35,700.
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Spot buyers are needed to give further upside potential. Perpetual swap data shows thick bid support that led to a short squeeze.
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Downside below $33,700 is seen as unlikely even in a bearish scenario. Hints on direction expected in the next 1-2 days.
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Longer-term outlook remains bullish thanks to the upcoming halving. Year-end targets include $45,000 or more.