BITCOIN → What's next? 50K or 75-80K? Is bitcoin still strong?

reaches ATH a bit faster than everyone expected. The correction reaches 14% after which the market actively redeems all the fall and tests the resistance again. Growing further? What is happening?

It is not excluded that a fall is possible, because at least the normal reaction to global zones is a correction of 20% or more. I am not indicating 100% probability of my words, but I am leaning on the situation at the moment.

After a false breakdown of 69K is formed, the market forms a correction. Huge sell-offs from the psychological level of 69K are forming. Even Bitcoin-kit of Satoshi's time sold 1000 BTC mined 14 years ago for $68 million. But, the next day the market starts to buy back the strong fall. This leads the price to another retest of resistance. The flagship continues to show a huge interest from people, which gives us quite important preconditions for further waiting.

I won't go into some old and deep stuff. Let's get straight to the interesting stuff:

An interesting setup is forming on D1. False breakout without any reaction. Consolidation. Price pushing to resistance. It seems to be nothing special, but this situation indicates the presence of a strong buyer or the absence of a seller, which is more likely. Friday's closing near the level tells us that the buyer is not finished yet and can continue his actions (buying the asset)

Local critical zones - support areas are formed within the consolidation. There are several scenarios regarding H1-H4. The resistance 68575 - 69000 plays an important role for us.

Scenario 1. Orange:
If price continues to trade within 69K - 65759, followed by a pre-breakout consolidation formation, price squeeze to 69K, slow approach on low volatility, this will entrain the chances of resistance breakout followed by price rise to 75K-80K.

Scenario 2. Red-Green.
The 69K - 66265K range will not be enough. Price may break the support structure: 66264 - 65759 after which a deep correction phase will start, heading towards 64K, 62K, 59K. But, a false breakdown of one of the areas with subsequent consolidation will form a potential that can restore the price to 69K. After that we expect the realization of the first scenario. Squeezing to 69K with subsequent breakout and growth to 75K-80K.

The bullish structure will break when the support at 60365 is broken, which will activate the liquidation phase and start the correction to farther support lines

Regards R. Linda!

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So far so good.
The retest of 68850 - 68577 continues

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Attempted breakthrough. The momentum gives us 1.76%, which is very good for intraday trading.

A price fixing above 69K will give the market the potential for further upside :)

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70K ;)

Note

The coin is trading at its highs, in the zone above 69K. This is quite an interesting situation. The coin is showing its strength

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False breakdown and the beginning of correction. Watch the market reaction.

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72910

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Quite an interesting situation. Consolidation in a clear field.
Bitcoin can purposefully move to 75K

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Support retest and liquidation.
price may continue its growth :)

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The coin is starting to recover from the correction

RLinda

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