➡️The situation has not changed these days.
At the moment $BTC
BTC has strong resistance in the area of 63000, and also, as it seems to me based on the analysis, 64300 - where 64300 acts as a limit until the end of this month + within the framework of a long, which nevertheless began on the 1d TF, this value should be a local limit for growth, I will be glad to be wrong, we also believe that the 64800 area is a dangerous zone because... if the growth continues to this area +/-, then the “dead cat bounce” pattern may be activated, where the obligatory action is a breakdown and passage below the current local level (now it is 58500, * and the general one is 56700) + EMA200 is superimposed here, which we are still even did not touch on the 1d TF, but they must do this according to all the laws of trading. If this does not happen, I will be very surprised and extremely happy. Therefore, there are options for trading + the pitfalls will no longer be a surprise to you.
➡️Can we go down to EMA200+ from the current ones? Anything can happen in the market, but such an action will show the maximum weakness of the bulls and will greatly contradict the “technique”. But again, this is my opinion, yours may be different.
Any correction from the current ones without updating the local level and without touching the EMA200 on the 1d TF (now it is 58050) will be included in the concept of correction, for example 60300 as support is visible.
➡️That’s why I’m making a local forecast; I’d rather see 63000-64300+/- than update the local loy (i.e. 58500). We'll see.
➡️I’ll raise the question as we discussed, can we go “V” figuratively from the current ones? Again, anything can happen on the market, but without touching the EMA200 or another round of decline within the framework of the 1D corrective TF, such a path still seems unlikely to me. Wyckoff provides for this (See screenshot)
And there will be a "V", I'm only glad, because... I’m in a position both locally and much lower in the medium and long term, all risks have been taken into account and I’ve traded all the important zones, now I’m watching.
➡️Be careful and trade correctly!
⚠️Important areas:
✅Support: 60300, 59300, 59000, 58700, 58050 (EMA200 and powerful protection), 57600, 55600, 52500, 50000
❌Resistance: 61700, 62000, 62200, 62900, 63000, 63900, 64300, 65350, 66400, 68700, 70100, 71400
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