Technical analysis by Margot-01 about Symbol BTC on 8/15/2024

BTCUSD remains constrained by a long-term downtrend line, signaling that the bearish trend dominates the market.Both the EMA 34 and EMA 89 are sloping downward, indicating that the short-term downtrend is still in control.Strong support around $54,000, where BTC has previously bounced, shows strong buying interest.The long-term downtrend line at $60,000 represents a significant resistance that BTC needs to break through to initiate an uptrend.News: BTCUSD is under pressure due to concerns about the Fed raising interest rates by the end of 2024. Investors are closely watching U.S. economic data such as inflation and unemployment to predict the Fed's next move.