Bitcoin continues its 1.5-month volume-free movements, these regions are often referred to as consolidation regions. In order to consider that the horizontal progression/sideways are over in these regions, the breakout candle is expected to come and our bias is updated accordingly.
The price has received rejection from the intermediate resistance zone (thin purple box in the red box) formed in the consolidation zone in the high time frame (HTF).
The price must first pass the $30,000 band for the continuation of its positivity. At the next levels, around $34,700 catches my eye as a level where the momentum rise can stop (imbalance can end).
The $28,500 level is one of the intermediate support zones. Yesterday, the price gained some good momentum, finding support at $28,550. With the loss of those levels, the price may visit the blue lined area on the chart (between $27,000-$26600) as support.
I share the levels that I care about in the low time frame (Lower Time Frame) to give an idea:
Ethereum HTF & LTF
In Ethereum, on the higher timeframe, the price is hovering above the green box, the support zone.
With the low time frame confirmations/confirmations/confirmations you will find in that region, you can start thinking in the direction of buying.
If anyone is wondering what confirmation is, they can check out the last 3 videos on my YouTube channel (https://youtube.com/@EfloudTheSurfer/…).
In a possible bullish continuation, I think the price could visit liquidity in the former swing high zone to $2075.
In negative scenarios (when the green box loses its functionality), the $1742 region catches my eye as the first support point.
I share the levels that I care about in the low time frame to give an idea:
I wish everyone a good month and good luck.
