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BTC Retests 100 EMA on 3D Chart—Is This the Next Local Bottom?

BTC Retests 100 EMA on 3D Chart—Is This the Next Local Bottom?
The article discusses the current state of Bitcoin (BTC) and its potential future movement. After losing 50% of its recent rally, BTC is at a critical level, with the 100-day exponential moving average (EMA) acting as support. Traders are wondering if the same pattern will repeat as it did in August 2024. Institutions and long-term holders are quietly buying more BTC in preparation for the next major move. While fear still grips the financial markets, BTC has a history of bouncing back after a 15% drop. The Federal Reserve's expected interest rate cuts could fuel another rally, but fewer cuts than anticipated could send BTC lower. Bulls must defend the $75,000 level to avoid deeper losses, and institutional funds are also invested in BTC's success. Dollar-cost averaging remains a popular strategy, as BTC is trading near the 50% Fibonacci retracement level, which attracts buyers. The fate of BTC for the coming weeks will depend on the battle between bulls and bears.

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