Bitcoin (BTC) in Critical Consolidation Phase
Market Observations:
Despite good news and rising equities,
BTC is consolidating and moving sideways, which isn't a strong sign for bulls.
Key Levels to Watch:
Support Level: $60,000 – This level must hold, or BTC could move towards the downside.
Breakout Level: $62,500 – A clean break above this level would demolish the bear thesis and likely trigger long FOMO in the markets.
Current Market Range:
BTC is still in a massive range, similar to summer 2023. If the fractal pattern follows, this accumulation phase could continue for another 35 days.
Market Outlook:
Stay cautious as BTC consolidates, and keep an eye on the key levels that could determine the next major move.
#Bitcoin #BTC #Crypto #MarketAnalysis #TechnicalAnalysis #Cryptocurrency #SupportAndResistance #Consolidation #FOMO #Fractal #Accumulation
Despite good news and rising equities,
BTC is consolidating and moving sideways, which isn't a strong sign for bulls.Key Levels to Watch:
Support Level: $60,000 – This level must hold, or BTC could move towards the downside.
Breakout Level: $62,500 – A clean break above this level would demolish the bear thesis and likely trigger long FOMO in the markets.
Current Market Range:
BTC is still in a massive range, similar to summer 2023. If the fractal pattern follows, this accumulation phase could continue for another 35 days.
Market Outlook:
Stay cautious as BTC consolidates, and keep an eye on the key levels that could determine the next major move.
#Bitcoin #BTC #Crypto #MarketAnalysis #TechnicalAnalysis #Cryptocurrency #SupportAndResistance #Consolidation #FOMO #Fractal #Accumulation
Pernyataan Penyangkalan
Informasi dan publikasi tidak dimaksudkan untuk menjadi, dan bukan merupakan saran keuangan, investasi, perdagangan, atau rekomendasi lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Persyaratan Penggunaan.