QTM_Labs_pwm

Currently, no significant buying pressure is observed, so we may see a minor rebound, potentially up to the 97K level, before the price breaks below the trendline.If the price breaks below the lower level, it could indicate a move toward new lows. However, it remains uncertain whether this is a move to create a new low or a retest of the strong rebound area around 94K for support, followed by another rebound. This will depend on the emergence of buying pressure.If a new low is established, the first target area could be around 89.5K, with a further potential drop to 86K.To establish a new all-time high, at least a consolidation phase within this range is necessary. However, the most decisive scenario would involve breaking significantly lower before recovering.At this point, considering either forming a triple-bottom pattern or targeting 89K for short positions appears to be a prudent strategy.

A significant amount of buying has been identified in the current zone, mirroring the buying momentum observed in Zone 2 prior to the previous rally. This area is likely to serve as the third accumulation phase, indicating a high probability of an imminent breakout.The price may initially break through the current channel, then retest the level to absorb supply.

During the weekend, we observed sideways movement within a range, accompanied by significant accumulation.Given the continuous uptrend in this range, it is a strong support area. While it could break significantly if breached, the accumulation suggests it's a strong bottom from a long-term perspective.So far, we've seen some selling pressure due to short-term dips, but the selling pressure from the weekend accumulation hasn't been captured yet. The direction seems contingent upon the selling pressure when reaching two resistance levels.With the monthly candle closing and the weekly candle changing tomorrow, we might see some directionality. Ultimately, since we're moving within a large triangle convergence, considering a significant direction change (a strong direction) might be more appropriate after breaking out of convergence.

It was confirmed that a large number of purchases came in in the current section, and the support line was accurately followed.Also, since I've pushed SL with one tail, if you're going to make an uptick, you're likely to go up this section without breaking the lows.Plus, I originally only saw a rebound up to 70.4k near the CME gap, but seeing that I haven't been able to post it for this long, I might be trying to renew ATH.But you can't let your guard down.If the section where the purchase is made is broken like this, we can see up to 65.9k.If this area is broken, you'll have to open the short.