BTCPosition update on the current market structure.
The block was tested from above, but there was no full-fledged move in - a sign of limited pressure from the seller so far. That said, there remains the possibility of liquidity taking hold in the $82,000-$83,000 range. The key condition is the realization of the scenario within the next week, maximum - before the month's close.
May, in the absence of extraordinary events from the political agenda (primarily the US and Trump), should work out in positive dynamics.
If the market ignores the designated range and forms a break above $90,000 before the end of April - the scenario with a re-entry under $80,000 becomes extremely unlikely.
Simply put, the current volatility and fluctuations are just localized structural distortions within the dominant bullish medium-term trend. Going above $90,000 in this configuration becomes the base scenario, the only question is the nature of short-term price transformation.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.