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Mujeeb🔄🎩ðŸŽ
@mujeeb
Bitcoin's transaction volume has dropped to 2023 lows, sparking concerns about market strength. The decline in network activity and weakening momentum may indicate reduced market participation, making it challenging for Bitcoin to maintain its current price levels. Key indicators to watch: - Bitcoin's daily transaction count: below 400,000 - Open Interest (OI): declined significantly to $86.2 billion - 50-day Moving Average: $85,873 (crucial pivot point) - Resistance levels: $86,877 and $87,500 - Support level: $80,000 If network activity fails to recover, Bitcoin may enter a consolidation phase or bearish correction in the coming weeks.
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