Market Update -
The analysis provides a comprehensive overview of #Bitcoin 's current market situation. Despite a challenging Monday for #BTC characterized by consolidation around the key level of $52,000, the anticipation is for expansion following the contraction phase.
The overall market structure for $BTC remains extremely #BULLISH... on higher time frames, although there's uncertainty about whether the price will continue upward or if a pullback to higher lows is necessary. Regardless, the bias remains bullish across all time frames, indicating a preference for long exposure.
Although the weekly candle closed above $52,000, daily candles are still indecisive around this level. There hasn't been a definitive daily close above the level yet, but there also hasn't been a strong rejection below it.
The analysis suggests eagerness to buy the dip around the $50,000 to $48,000 level, considering the presence of a 4-hour demand zone and a 2-hour trending moving average, which have been respected on the way up.
In terms of liquidity, there's an increase above the current range at around $53,000 to $52,800. Each time $BTC attempts to break resistance and fails, additional short stop losses may accumulate at this level, potentially providing a breakout long opportunity.
Considering the marginally higher funding rates for Bitcoin and some altcoins, corrections across the board could be expected, presenting a buy-the-dip opportunity. Overall, the analysis underscores the importance of being prepared for potential price movements and strategic positioning to capitalize on market opportunities.
Once $BTC break $53500 we can expect to big race 55k-59k zone, Thankyou.
