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$BTC DAILY UPDATE
Price briefly broke back inside the channel in the 4H chart, but failed to continue higher and has now broken back below.
Looking at recent news, it seems like all the good news are already out: Trump securing a trade deal with China, inflation cooling down, yet Bitcoin still hasn’t made new highs.
Like I mentioned before, this is a sign of exhaustion, and Bitcoin seems to be in a phase where good news no longer moves the price up, but if bad news drops, we could even see a sharper sell off.
At the moment, price is likely to revisit previous support around the Monday lows + EMA 50 level. Let’s see how it reacts there.