Starting today, the BTC price may make a new attempt to rise. At least, this is suggested by the potential low markers that appeared yesterday on the 12- and 18-hour timeframes (with the uptrend on the 18-hour timeframe remaining intact), while liquidity zones on these timeframes continue to provide support.

Just the day before yesterday, we wrote:

"...it is also worth noting the liquidity zones on the 12- and 18-hour timeframes: $80,042–$81,414 and, respectively, the similar $80,040–$81,582 zones. They have kept momentum bearish since October 8 and have stopped sellers’ advances several times. But remember: the more often a level or liquidity zone is tested, the more likely it is to break. To invalidate these zones, the 12-hour candle must close below $80,042, and the 18-hour candle below $80,040."

In the local #BTC picture, the chart has possibly been forming a “Double Bottom” since Saturday, but we can only confirm it after a breakout above the “neckline” at $81,033. If it breaks above that level and the pattern starts to play out, the full target would be around $82,800.

Until then, the situation remains contradictory. Despite the uptrend on the 18-hour timeframe, the price remains in a strong downtrend on the 3-hour timeframe, meaning the outlook for local speculation is bearish. Plus, on the lower 5-minute timeframe, each new downtrend shows a considerable concentration of targets below. This could lead to a squeeze down to $79,252 in a conservative scenario, $78,638 in a neutral one, and $77,647 in the most extreme scenario.

Let’s see what happens first: an uptrend on the 3-hour timeframe or a downtrend on the 18-hour timeframe.

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