2. Positive reaction from the first buying zone. Could be a good time to start taking TP or at least to put the stop in BE.
It is very unlikely for this to be the bottom. Expect sub 5k values. The second area could be the bottom and if not, the 3rd will most likely be.
So, it seems that the bears are powerful. We had a nice reaction from the first zone and as expected it didn't hold but we were expecting to see a correction to at least 5.8k (5658 was the top). Now we are heading towards the second area which we considered to be a potential bottom but seeing how powerful the bears are, we are starting to have doubts about this. For now, btc is still in a very good buying zone as you can see in the picture.
BTC ignored the confluence of horizontal and diagonal support and went straight to the second buying zone. We have a reaction but it is not THE reaction we wanted to see.
This is THE reaction we were looking for.