#BTC/USD 2w Chart
Hello everyone, first off, stay strong--things are going to improve soon!
Many people are confused right now and might get liquidated, eventually leaving the market and regretting it later. But not you! You have access to this information.
Take your time to read and understand the current situation fully.
Special Thanks to my close friend Adison for the valuable insights he shares with the community and me!
Please HIT that follow to stay ahead and like this article if it helps!
Key Bottom Ranges to Watch For
There are two high-confluence zones to look out for that could signal a strong bounce and an
upward move:
•50,521 - 50,901
*46,216 - 46,930
These ranges represent higher timeframe (HTF) bottoms for the overall HTF trend. There's a good chance that we could see a reversal within one of these zones, leading to a potential upward move.
However, if these levels don't hold, we might see a deeper extension into the 37.7k - 43.5k range, which is an attractive liquidity zone. But this lower range only becomes relevant if the higher ranges fail to hold. That said, both of the above ranges are strong support levels and could propel the price back to all-time highs (ATH) of 70k - 72k or even higher, potentially reaching 89k - 93k.
Currently, we've already hit 53,400, a key level that's holding off a potential sharp drop. If we lose this level, we could see a rapid decline to 3k.
(Current price: 53,627)
Be prepared! We've already touched the 52,550 level, which is acting as major support. If it breaks, the ranges mentioned above become the most likely areas for a bounce, although the 52k range could still hold. However, I'm not counting on it, as we've previously sliced right through that level
Additional Market Update:
BTC is up 68% in volume.
ETH is also up 68% in volume.
Both BTC and ETH have seen significant buying activity during this dip, especially since yesterday, with most of it happening today.
On the lower timeframe (LTF), the market is risky as we're sitting at the final support zone of 52,550.
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