In the $BTC -H4 timeframe, the RSI has touched the 74 region 6 times before being rejected from rising further. The 80 level, where the RSI typically indicates strong buying pressure on the H4 timeframe, has yet to appear. This suggests that the current buying pressure is from whales or institutions accumulating and maintaining market liquidity, rather than a true reversal.
Therefore, anyone trading spot or long positions from entry at 68KX...or 70KXX should move their stop loss to a positive level and continue observing the market. The current strong support levels are divided into tiers:
Level 1 - 74-75K
Level 2 - 70-72K
Level 3 - 66-68K
If one of these support levels is broken, the next will be the next support level.
The lowest projected minimum drop is 74-75K, after which there will be a rebound to test the resistance zone at 78-79K.
Conversely, a maximum drop of 66-68K will continue sideways.