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BTC Testing Bull Market Support Band: Make or Break Moment? 📉🚀
The market is at a critical juncture. According to the latest data from macro analyst Benjamin Cowen, Bitcoin is currently testing the bull market support band (20-week simple moving average and 21-week exponential moving average).
Historically, maintaining this level has been crucial for preserving a macro bullish trend. If we can hold in the $58,000 - $60,000 range, the path to new all-time highs remains open. However, if the weekly close falls below this level, it could lead to a deeper correction toward $52k .
Key Technical Insights:
Support: $58k - $60k (support band)
Resistance: $67,500 (major supply zone)
Altcoin Warning: BTC market dominance continues to rise. Exercise caution with altcoins until dominance reaches its peak. $BTC