Hello everyone!!!

Price has completed the plan and started to unload the compression of liquidity.

The market capitalization is 1.18 trillion and the dominance index is 49.77%. The fear and greed index is at 52, which is in line with the neutral sentiment.

A retest of the broken level at 29500 should be noted. If the price consolidates above this mark, a quick return to the levels of 29700-29900 (OV overlap) is expected. In such a situation, the target values for short positions will be Fibo 0.5 levels of the last retracement - 28500-28300. In case of consolidation at these levels, it is possible to consider LONG-positions with the purpose of going to the levels 32500-33500.

However, if we fail to consolidate above 28500, we can consider any purchases only at 25500-26200, as there is a volume hole between these levels, and the support may not withstand a sharp fall.

All in all, market conditions are in a dynamic state and price behavior should be closely monitored to make the most informed trading decisions.

Good luck and patience everyone!

Always in touch,
Relictum Analytics
Trend Analysis

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