Hello family! Crazy what is to come!!!
After a few days of inactivity and letting the markets stabilize, we once again identify key areas.
Here are the important points to keep in mind:
As expected, once BTC reached the 70-72K zone (where we closed our trades), selling began, slowing the price advance.
Now we have several scenarios. On the one hand, the current zone around 67K is acting as support. However, we are not entirely sure that it can withstand the selling, as the bounces in this area have so far not surpassed the previous highs. We could witness a breakout and price drop.
In the second scenario, if the aforementioned zone is broken, we would look for support around 66K, approximately marked by a dotted line. This is an intermediate zone. To consider a buy at this level, we should first observe the formation of some trend reversal pattern. This could lead to a more significant Shoulder-Head-Shoulder (HCH inverted) formation, which, by breaking the previous highs, would offer us interesting targets.
We cannot rule out the possibility of a visit to the bottom of the range, where we previously opened our buy positions, around 60K.
Let's keep a close eye on these levels and be prepared to adjust our strategies as market movements develop!