$BTC

-As you notice we are trading above the trendline.

-this trendline is an indication that we are still in a bullish trend.

-but now market is trying to retest the said trendline.

-while support level is holding the price to the said retest attempt.

-63800 is still my ideal entry for long set up.

-other traders like orderblock traders and fibonacci traders are also waiting below 63800 as entry point.

in short no matter what the price we will hit below expect a bullish reaction to these mention zones.

-On the other hand if this horizontal support will show some strength then we might be able to see a 3rd attempt to break resistance and hit 72k price zone.

-while failure to breakout will result to a longer consolidation market forming a bullish rectangle in the long term.


Fundamental side - FED's are still planning to hold the interest rates on a high level which is around 5.25% - 5.50% for a bit longer.

Overall : I am still bullish unless 56k is breached then we switch sides once market fail to put the price back above 56k.