R.Linda Trading - forecast

BITCOIN → Continued consolidation before a strong move

CRYPTO forecast
💡 Ideas For BTCUSD 🪙

📈 BITCOIN → Continued consolidation before a strong move


BTC is testing 71572 and forming a false breakout, I have emphasized our attention to liquidity above this level in a separate idea. Trading inside the range after capturing liquidity continues and the market appears to be preparing for a halving
The false break of resistance and 8.5% retracement indicates that the coin is not ready to go up yet, but at the same time it is not ready to go down, as indicated by the MA-50 retest and the candlestick pattern, which can be interpreted as the activity of strong buyers protecting the market from falling. On W1 we see a strong growth, which gradually turns into consolidation and does not give any correction or technical pullbacks - this indicates the strength of the market, the bulls are watching the price and continue to stand in their bullish stand in order to throw the price even higher
Resistance levels: 71572, 73679

Support levels: 0.236 fibo, 64545, 61447

After the resistance retest, the market may be interested in the lower zones from the liquidity point of view. Bulls are actively defending them and holding the price, but before halving the price may try to drive it lower in order to liquidate traders and accumulate potential before further strong price movement