BTC is showing an aggressive rebound this hour, attempting to absorb the entire morning's decline.

It's useful to look at the situation on the 5-minute timeframe. The price was pushed sharply to the liquidity zone at $85,899–$85,979, which is currently acting as resistance to the pump. At the same time, the asset has two Strong signals pointing to a potential high. This is a good setup for a local turning point.

If the price closes a 5-minute candle above $85,979, we can expect this bounce to continue. If not, then this was a short squeeze before the decline continued. For now, locally, the price has managed to restore its uptrends on the 10- and 15-minute timeframes.

Meanwhile, on the 15-minute timeframe, there’s a whole cluster of liquidity zones in the $86,243–$86,789 range. And it’s far from certain that the price can break through here and continue the impulse.

Although the picture for sustained trends in the altcoin market has turned more bearish since yesterday evening, #BTC is still setting the main trend for now. And the current picture for BTC is still not enough to say that the correction of the pump has actually begun. Over yesterday and today, the price has managed to establish sustained downtrends only on the 1-hour and 1.5-hour timeframes. That’s not bad, but it’s not enough to confirm sellers’ strength. We’re still waiting for a sustained downtrend on the 3-hour timeframe. To start with, at least on the 2-hour timeframe—there hasn’t been such a downtrend since September 30.