Three of four short-term targets were reached: 89k, 87k and 84k, while the 80k level remains unmet.

Targets status

The partial completion of objectives leaves one remaining threshold at 80k, which could still determine the next broader price move.

• Target 1: breach of 89k — achieved.
• Target 2: breach of 87k — achieved.
• Target 3: breach of 84k — achieved.
• Target 4: breach of 80k — not achieved.

Potential support levels

Price action may still find a local bottom above 80k, with possible support zones around 83k, 82k or 81k.

The assessment notes that a drop to any of these levels would not necessarily imply a move below the 80k threshold.

Market makers' considerations

The analysis suggests that accumulating large liquidity below 80k could remain an attractive tactic for market makers (MM), according to the original note.

Three of four objectives being fulfilled may already provide sufficient conditions for MM positioning ahead of a potential bull phase, without an absolute need to push below 80k.