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
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