The price could return to the 70k and 71k levels

Bitcoin surged to the selling zone above $70,000 and was rejected again. Currently, it has strong support in the $67,000 to $65,800 range, which could potentially push it back towards the $70,000 to $71,000 resistance level.
Keep an eye on your watchlist, as long as the main ascending trend line at around $65,800 is not broken, you can look for long positions during corrections.
Please note that this is an analysis, not a trading signal.

Commentaire:

Currently, Bitcoin's price is in a compression phase, forming a trading node indicative of a balance between buyers and sellers. The range of $65,800 to $67,000 acts as strong support levels, suggesting that the market might gather the necessary liquidity in these areas.

Key Levels:
Strong Support Levels: $65,800 to $67,000
Supply Zone (Resistance): $69,600 to $70,000

Price compression indicates reduced volatility and a potential setup for a significant move.
The formation of a trading node within these ranges signifies equilibrium between buyers and sellers, awaiting the next market move.


If the price is well-supported within the $65,800 to $67,000 range, the likelihood of liquidity accumulation increases.
This liquidity can trigger an upward movement towards the supply zone ($69,600 to $70,000).

The supply zone may present significant resistance for the price.
Upon reaching this zone, notable price reactions can occur, leading to either a pullback or a breakthrough of the resistance level.