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At the moment, the market shows a balance of power between buyers and sellers, which is indicated by the formation of multiple "Long-Legged Doji" candles. This suggests uncertainty, as major players, such as market makers and hedge funds, have exited their positions after capitalizing on the recent price increase. Currently, Bitcoin's price lacks a clear direction, reflecting this uncertainty.
Key support and resistance levels are visible, with the main support around seventy-five thousand six hundred seventy-three dollars, with a possible deeper pullback to seventy-three thousand dollars. If the price reaches this support area, a reversal and upward movement could be expected.
In the longer term, if Bitcoin can return to the ninety-three thousand two hundred twenty-four dollar level, there may be further efforts to breach the psychological barrier of one hundred thousand dollars. However, this would likely depend on ongoing geopolitical factors and the economic policies of major players, such as the USA and China.
#Hashtags: BitcoinAnalysis #TechnicalAnalysis SupportAndResistance #Doji MarketIndecision #BTC