Hey there, buddy!โ๏ธ
By examining the chart in the daily timeframe, as you can see, The price has been moving back and forth between $31,000 and $29,500, showing a consolidation pattern with decent trading volume. It's crucial to keep an eye on the support level at $29,500 to see if it holds. Now, here are a couple of scenarios to consider:
Scenario 1: If the price breaks below the liquidity range, confirms a sell signal, and drops below the important support level of $29,500, we might see a correction towards $29,000, $28,400, and even $27,400. It's important to see how the price reacts to these support levels to understand the next move.๐น
Scenario 2: On the flip side, if the price manages to break above the strong resistance levels at $31,400 and $32,000 and stays above them, there's a chance for further upside towards $34,000 and $36,000.๐น
โญ๏ธRemember, this analysis is for informational purposes only and shouldn't be considered investment advice.
Wishing you loads of success in your trading adventures, my friend!โ๏ธ
โ (DYOR)...โ ๏ธโ๏ธ
๐นSure, if you have any more questions or need further clarification, feel free to ask. I'm here to help!
๐นAnd if you found my analysis helpful, I would appreciate it if you could show your support by liking and commenting. Thank you! ๐