📊 BTC Market Analysis 📈
This updated chart reflects the evolution of the previously labeled chart. The $60,500 level, as mentioned earlier, has been tested six times since moving away from that range. This region has proven its significance repeatedly.
It's a common belief in the market that the more a region is tested, the weaker it becomes, which holds true to some extent. Although we've previously discussed the possibility of the $52K region on a weekly basis, I now find it rather surprising.
There are three critical levels indicated by the red lines: $57K, $55K, and $52K. While there's a chance we might see a bounce back to $57K, depending on the Federal Reserve's announcement tomorrow, anything lower than that would be unexpected for me.
Personally, I anticipate BTC to rebound from here, possibly accepting the $57K level. I expect significant market increases until July. However, we remain cautious, making gradual purchases on the spot side and refraining from stop transactions on the margin side.
