Analytics: Market Outlook and Forecasts ๐
๐ WHAT HAPPENED?
Last week, our Bitcoin rebound scenario played out. After reaching the nearest local resistance around $63,900 (volume anomalies), the first signs of slowing growth and a seller reaction appeared.
However, there was no local trend breakdown. Moreover, after the news about a preliminary agreement between the US and Iran was published, Bitcoin gained several percent.
๐ผ WHAT WILL HAPPEN: OR NOT?
We are currently testing the lower boundary of the $66,000-$68,000 range, with sellers absent. Under these conditions, it is logical to expect this zone to be filled further.
The main volume is concentrated around $67,200. Until this level is reached, local long positions can be considered.
It is worth noting that the overall buying dynamics remain weak. If there is a significant reaction in resistance zones, the market may face a strong decline.