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Bitcoin Faces Potential Upward Breakout After Liquidity Tests
What do I think about Bitcoin? I’ve recorded a brief market analysis.
To summarize: As expected, after the drop before the Federal Reserve meeting, the price indeed rebounded significantly from 115K to 119K. However, it has yet to clear the large liquidity pools above, starting from around 119K and higher.
Currently, Bitcoin has been pushed down quite a bit, but on the daily timeframe, there is a bullish flag. In the past, similar scenarios have ended with a strong upward impulse — so I believe there’s a good chance this pattern could repeat. Therefore, I continue to consider the possibility of an upward move aimed at clearing the upper liquidity zones. This movement could commence at current levels or around 112K.
Breaking through the 110K-112K range will be very challenging, and I currently see this scenario as unlikely. However, as we all know, the market can turn in any direction at any moment. I will keep monitoring the situation and look out for new trading setups.
To summarize: As expected, after the drop before the Federal Reserve meeting, the price indeed rebounded significantly from 115K to 119K. However, it has yet to clear the large liquidity pools above, starting from around 119K and higher.
Currently, Bitcoin has been pushed down quite a bit, but on the daily timeframe, there is a bullish flag. In the past, similar scenarios have ended with a strong upward impulse — so I believe there’s a good chance this pattern could repeat. Therefore, I continue to consider the possibility of an upward move aimed at clearing the upper liquidity zones. This movement could commence at current levels or around 112K.
Breaking through the 110K-112K range will be very challenging, and I currently see this scenario as unlikely. However, as we all know, the market can turn in any direction at any moment. I will keep monitoring the situation and look out for new trading setups.
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AI Analysis
In the current market condition, Bitcoin has shown resilience following a notable decline before the Federal Reserve’s announcement, rebounding from 115K to 119K. This bounce aligns with typical marke...
AI Recommendation
Considering the current technical signals, I recommend monitoring Bitcoin closely for a breakout above the 119K zone or a bounce off support levels around 112K. If bullish momentum sustains and the pr...
Disclaimer
The AI analysis and recommendations provided are for informational purposes only. Any investment decisions should be made at your own risk. Past performance is not indicative of future results. Always conduct your own research and consider consulting with a financial advisor before making any investment decisions.
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