Candidates, today we will discuss the current situation on the Bitcoin (#BTC) chart đȘ.
Let's start with an update on my previous global analysisđ. The situation is quite interesting â once again, the prediction was spot on. As expected, during the downtrend, the daily imbalance was covered, followed by an upward movement that pushed the price to $59,000.
On a more local chart, a clear 10-day range has formed, with a deviation below the lower boundary observed last Thursday. This movement confirmed â the rangeâs goal: accumulation by a large player đ â the initial liquidity sweep from below is aimed at buying at favorable prices.
Currently, we have two support zones âĄïž the primary one (result of the deviation) - Bullish Order Block đ 1 day $56,805-$57,541 and a secondary one - similar Order Block on the 8H $55,422-$56,300. A pullback to these zones is unlikelyâ; however, if a correction does occur, I will use the opportunity to add to my positions, which I recommend you do as well!
What should we expect nextâ
The large player has already accumulated their positions and, under favorable news, will start pushing the price upwards. The targets at the moment are a retest of the old CME gap, breaking through the upper boundary of the range at $62,470, testing the Bearish Order Block at $67,612-$69,770, and clearing the large liquidity pool above the equal highs at $72,000.
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