📌 Current Situation:
The price is sitting at a strong HTF support zone.
Key Areas:
✅ Monthly Level: Multiple retests confirm its significance.
✅ GAP Zone: A liquidity gap that the market often fills.
Primary Scenario:
🔹 A breakdown to $1700 is possible, but if it occurs, it’s likely to be an HTF rebound with a monthly close above $2000.
🔹 A bounce from current levels without a deep test is also possible, given the strength of the support.
Key Levels:
🔹 $2000 – Potential bounce zone and a key level for the monthly close.
🔹 $1700 – The maximum liquidity sweep before a recovery.
📈 Takeaways:
⚡️ A great long-term buying opportunity – price is at support, downside risk is minimal, and the upside potential is significant.
⚡️ Critical Scenario: If the market breaks $1700 and consolidates below, a reassessment of strategy is needed.
💡 Conclusion:
There’s no confirmed reversal signal yet, but this zone could mark the bottom before a new bullish impulse. 🚀
The price is sitting at a strong HTF support zone.
Key Areas:
✅ Monthly Level: Multiple retests confirm its significance.
✅ GAP Zone: A liquidity gap that the market often fills.
Primary Scenario:
🔹 A breakdown to $1700 is possible, but if it occurs, it’s likely to be an HTF rebound with a monthly close above $2000.
🔹 A bounce from current levels without a deep test is also possible, given the strength of the support.
Key Levels:
🔹 $2000 – Potential bounce zone and a key level for the monthly close.
🔹 $1700 – The maximum liquidity sweep before a recovery.
📈 Takeaways:
⚡️ A great long-term buying opportunity – price is at support, downside risk is minimal, and the upside potential is significant.
⚡️ Critical Scenario: If the market breaks $1700 and consolidates below, a reassessment of strategy is needed.
💡 Conclusion:
There’s no confirmed reversal signal yet, but this zone could mark the bottom before a new bullish impulse. 🚀
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.
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.