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$BTC - The price has bounced off the newly reclaimed high-timeframe support range, which served as the bottoming formation back in April last year.
Because of this, as I’ve highlighted in many of my prior updates, I believe that as long as price continues to hold above this range, which aligns with the 2D Bull Market Support Band, a strong reversal area over the past couple of months, the most likely outcome remains a move to the upside.
Whether we see further consolidation in the coming days, or even a deviation below this support to flush overleveraged longs, doesn’t matter much on the high-timeframes, as the structure would only be invalidated with a break below $66K, which, in my view, is unlikely anytime soon.