Hello guys
Quick update on Bitcoin on the 4-hour frame
The price dropped to about 74600 and then it wanted to make a long tail and needs liquidity from the previous bottom which is the tail, and then it made a slight bottom or swing and the sugar should bounce back from here, God willing.
But the question is whether the bounce is just a correction or an upward movement???
The area that the price reached is a strong supply area with large buy orders, and usually, the price tends to bounce back from it, but it might correct to the nearest area with strong sell orders that push the price back down and break the area, and the price might continue to rise.
But God willing, the expected or normal scenario is if the price rises and bounces back, the last area it will reach will be the 70000 area, and after that, the rise will be significant and we might see a new peak.
We will follow up together, and if anyone has a question, just ask and I will respond.
By the way, I took a buy position from 75000 and I will see where it will reach.
Good luck
$BTC
