Either I missed some backlash or backlashing does not seem to work with too much programmer-quote-looping.
$ echo \"hello1-`echo hello2-\\`echo hello3-\\`ech
if you insist to use backticks, following could be done
$ echo "hello1-`echo hello2-\`echo hello3-\\\`echo hello4\\\`\``"
you have to put backslashes, \\ \\\\ \\\\\\\\ by 2x and so on, its just very ugly, use $(commands) as other suggested.
\\ \\\\ \\\\\\\\
$(commands)