šŸ“ˆ Bitcoin Analysis:šŸ“ˆ M Pattern and Supply Dynamics šŸš€

Technical Analysis:

TheĀ 4-hour chartĀ indicates anĀ M pattern, with a weak neckline aroundĀ $68.5k.

šŸ”„If BTC bounces from this level and closes aboveĀ $71,382, consider a long position with a stop loss atĀ $69,857.

The consecutiveĀ take profitĀ target could be aroundĀ $80,000.

Supply Dynamics:

šŸ”„BTC has repeatedly checked supply levels aroundĀ $59-60k. It currently awaits exhaustion of supply within theĀ $68k-70kĀ range.You can check the chart of mine that I have depicted with horizontal box with respect to volume.

šŸ“ˆKeep aĀ contingency planĀ in mind, as markets can surprise us. Always leave a back door open.

Alternate Scenario:

šŸš€If BTC drops to check liquidity atĀ $59-60k, consider taking an entry there with aĀ 5% stop loss.

Remember, the crypto market is dynamic, and unexpected events can occur. Stay informed and adapt your strategy accordingly! #BitcoinTrends" #Fingerscrossed $BTC