#BTC $BTC Hey, guys. Hope you're okay. Bitcoin and the entire cryptocurrency market collapsed amid the threat of escalating war in the middle east. Also adding negativity to the current situation is the collapse of the Japanese Nikkei stock index. Unfortunately, at such moments, the classical technical analysis ceases to work and investors go into cash en masse. As I said yesterday, we saw a short test of 60k and after that the price continued to fall, breaking through local supports. At the moment it looks like a local culmination of the downtrend, the price bounced from 50k forming huge cluster volumes that will act as support in the 49-51K range. The key resistance where the large volumes passed is in the zone of 55K, so most likely the price will consolidate in this range for some time. Over 1 billion liquidations took place in the market over the past 24 hours, and at the moment the zones saturated with liquidations are in the 49 and 55.5K zones and coincide with the volume zones, which once again confirms the importance of these levels. Stay tuned.