$BTC After confirming the increase, which area is BTC most likely to return to test??
During the process of organizing the collection of goods, the organization will create many resistance zones to check whether the supply force is selling a lot or not, or to see if other organizations are starting to buy at the resistance peaks to push the price up. So among those resistance zones, we must grasp the concept of the organization's important resistance zone to determine when the process of going up at the final supply and demand test phase (BU phase), BTC will test at which resistance zone is most likely.
Currently, we see that BTC has 2 important resistance zones: 64.5k and 66.5k. If BTC continues to go up today without breaking the 66.5k zone, is it likely to continue testing the 66.5k zone? Or if BTC does not go up but continues to fall, is it likely to continue testing the 64.5k zone?
The answer is that we must read the behavior of the organization to check the supply and demand at which resistance zone is the most, which is the area that the organization is interested in to choose to check all the processes before entering the price pushing process and as shown in the picture below, we see that the 64.5k zone has 3 times of failure and 1 time of overcoming, then the bull trap process clearly shows the will of the organization at this resistance zone, not the 66.5k zone. So if BTC really pushes the price today or tomorrow, we must see BTC go to this important zone to test for the last time before going up, but if it breaks out of this zone, it will be a bull trap similar to the early October period. Let's follow the market closely to prepare to buy spot btc or altcoin meme wave!