Potential for a shadow and subsequent increase towards 69/70K

The price is nearing the support of the upward trend with a key liquidity zone at $65,800, suggesting a potential rise to $69,000/$70,000. Breaking this support could lead to a decline towards $64,000/$62,000. Monitoring these levels can provide insights into market movements.

6/2/20241 min read

Chart showing the price approaching the upward trend support, with key levels at $65,800, $69,000/$7
Chart showing the price approaching the upward trend support, with key levels at $65,800, $69,000/$7

Currently, the price is approaching the support of the upward trend. There is a liquidity zone at the $65,800 level, indicating a potential shadow and a subsequent price increase towards $69,000/$70,000.
If the current support is broken, there is a likelihood of the price moving towards $64,000/$62,000. Observing these levels can provide insights into potential market movements. As long as the price remains in an upward trend, monitoring pullbacks (price retracements) could be beneficial for understanding market dynamics.