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In the past 24 hours , 2,13,305 traders were liquidated , the total liquidations comes in at $827.23 million

#BTC/USDT ANALYSIS

Bitcoin is experiencing a rebound from the support trendline and horizontal demand zone following a strong rejection at the resistance trendline of the descending broadening wedge pattern. This price movement suggests that Bitcoin is finding stability above the crucial demand zone and the pattern's support trendline.

The 200-day moving average is currently providing robust support just below this demand zone, bolstering the bullish sentiment. However, the 100-day MA is posing as a resistance level, which could challenge the upward momentum.

Despite this resistance, the overall technical indicators and market conditions suggest the potential for a strong bullish rally in the crypto market, as investors and traders remain optimistic about Bitcoin's capacity to break through these barriers and sustain an upward trajectory.

#BTC/USDT ANALYSIS

Bitcoin remains within a descending broadening wedge pattern after sweeping liquidity below it. Currently, it is rebounding off the support trendline.

The 200 MA and the Ichimoku Cloud are both serving as resistance above the current price action. A solid breakout from the pattern is anticipated soon, which could lead Bitcoin to reach a new high.