Update and Analysis $BTC
Good morning, Crypto Nation!
Little has changed since this last analysis, but much has become clear about its direction.
First: The key pivot level that was exposed was undoubtedly validated.
Second: Some scenarios are confirmed.
Let's look at the behavior on a shorter timeframe. Viewed over 4 hours, the level acts as a magnet: Each close above it causes a distribution, and when the close is below it, liquidity is bought, injecting liquidity. Indeed, the price is preparing for a big move.
My predilection (I would say bias) is bullish. Having ruled out the pessimistic scenario, there is no reason for a steep drop.
The price could touch the 83K price again just to validate and then rise; the important thing is that it doesn't close below it again.
For now, the next reaction level is at 87K.
Finally: Responding to ignorant comments. It's not about "if it goes up, it went up; if it goes down, it goes down more." It's about understanding the relevance of a level and creating scenarios, which are then confirmed or rejected. It's a matter of analyzing and developing a strategy.
As always, trade carefully, continue educating yourself, and don't be ignorant.
Farewell, Crypto Citizen.