#BTC: Ideal retest of the buyer's zone



The market decided to play out a classic and highly technical scenario. Instead of a non-retracement growth, we got a deep retest of the broken range.

This pullback brought the price exactly to the 0.5 level. The market dropped off passengers who jumped into longs at the very high, and tested the buyers' strength at a mirror level.

The structure of the upward trend remains intact; the current movement is healthy market breathing.

It is now important to hold the current zone on the daily timeframe. A return and consolidation above $80,600 will confirm buyer strength and open the way for an impulse.

If the daily closes significantly below the marked zone, the long scenario will need to be reconsidered, as this would indicate a false breakout upward.

The target at $90,000, as well as the upper boundary based on risk-reward around $98,000, remain fully relevant for May-June.

Share your thoughts 👇 🤝
BTC-1.11%
View Original
post-image
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • 1
  • Repost
  • Share
Comment
Add a comment
Add a comment
SergioBanani
· 10h ago
Pay close attention 🔍
View OriginalReply1
  • Pinned