Sell-side pressure has been absorbed within the $60K-$72K band that defined much of H1 2024 đ. This repeated defense suggests emerging conviction among buyers willing to accumulate in this corridor đ°. In a constructive scenario, sustained absorption could mirror prior strong accumulation phases laying foundation for the next advance đ. However, durability depends on intensity and persistence of demand â ïž. How aggressively buyers step in across $60K-$72K will determine if the market stabilizes range-bound or weakening absorption opens the door to deeper downside đđŽ.
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