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**Bitcoin (BTC) in ‘Pain’ Mode, Top Analyst Explains**
A recent analysis from a top analyst suggests that Bitcoin (BTC) is currently in “pain” mode. In this state, it is crucial to closely monitor key levels and broader market cues for a clearer direction during this volatile phase.
The New York session’s low has been identified as an important finding by the analyst. If Bitcoin can maintain its position above this level, it may indicate that passive bids are increasing, potentially supporting a future upward move. Conversely, if the asset falls below this low and runs into pressure from passive sellers, it could lead to a more significant correction.
Traders have been advised to keep a close eye on whether Bitcoin can find support or risk further declines. Given that both liquidity extremes have already been swept, the next move will likely depend on this outcome.
In light of this analysis, traders are urged to focus on key levels and market trends to navigate this unpredictable period effectively.
Source: u.today