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Let's analyze BTCUSDT on lower time frame:
BTCUSDT is currently trading within a bullish pennant formation.
If BTC bounces from the lower support at $94,700, it may continue to stay within the pennant and potentially break above the resistance level $98,500. However, if BTC breaks down this pattern, a downward move could take the price to the next support levels at $91,123 or $85,770.
BTC could rebound from any of these supports. However, for BTC to move upwards or remain sideways, a weekly close above $94,750 is crucial.
Key support zones:
Primary support zone: $92,590 - $91,123
Secondary support zone: $86,790 - $85,770
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