💡 Ideas For BTCUSD 🪙
📈 BITCOIN → Trap. Retest. Breakout. Correction. Halving.
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BTC breaks through the 69K mark, grows by 8% and hits a strong resistance zone. There is a high probability of forming a false breakdown before further correction, as there are reasons to weaken the price a bit before further growth.
📈 BITCOIN → Trap. Retest. Breakout. Correction. Halving.
➖➖➖➖➖➖➖➖➖
BTC breaks through the 69K mark, grows by 8% and hits a strong resistance zone. There is a high probability of forming a false breakdown before further correction, as there are reasons to weaken the price a bit before further growth.
![snapshot](https://static.tildacdn.com/tild3133-3433-4862-b865-643138303337/image.png)
The flagship of the cryptocurrency market updates the high at 73794. Technically, 69K is starting to sell off strongly and the bars on H1-H4 make many nervous, but the market maker comes into play at the moment when the market becomes unbalanced towards selling. On H1-H4 you can see the decline start to redeem itself and price compresses to 69K and then forms a breakout. At this point, all sellers are trapped and liquidated. The price reaches a new ATH and hits the limit-resistance set up in the market to hold the price, as the bull run cannot continue all the time, the market needs a rest, the whales need to open positions at more favorable prices than 74K, and halving the decline is another reason for the asset to drop in value.
![snapshot](https://static.tildacdn.com/tild3561-3666-4263-a339-386331633763/image.png)
It is worth paying attention to the support zones mentioned. The 68500-69K level will hold the price for a long time as it is a very strong zone, but based on the set-up and pattern, there is a high probability to see a breakout and decline. The 60K zone is ideal for a test as it is a strong intermediate bottom, but we should also pay attention to the 63750 intermediate target.
Below 60K the market will not let the price go, as a breakout of this area will start a strong liquidation and decline, and it will be very difficult to hold it. In the zone of 60K there is a huge pool of liquidity, which can be interesting for the market and accumulation of potential before further growth.
Below 60K the market will not let the price go, as a breakout of this area will start a strong liquidation and decline, and it will be very difficult to hold it. In the zone of 60K there is a huge pool of liquidity, which can be interesting for the market and accumulation of potential before further growth.
![snapshot](https://static.tildacdn.com/tild3036-3032-4331-a334-303935313764/image.png)
In general, now the market will move in the range, inside the range the correction will develop. Trading will take place between the levels. Expected range: 69-70K (from above) and 60K from below.
Resistance levels: 69K, 71K, 72400, 73700.
Support levels: 65600, fibo 0.382
Based on the current market structure and price behavior, we have a high probability of catching a correction in the market. Everyone needs to rest and whales need to buy at more reasonable prices.
Resistance levels: 69K, 71K, 72400, 73700.
Support levels: 65600, fibo 0.382
Based on the current market structure and price behavior, we have a high probability of catching a correction in the market. Everyone needs to rest and whales need to buy at more reasonable prices.